Sunday, 27 Feb 2011
Dow Jones reported that Brazilian mining company Vale SA said that its business won't be greatly affected by the current political and social crisis in parts of the Middle East.
Mr Jose Carlos Martins executive director at Vale said that "Only 3% of our sales are to the Middle East. Vale notched up operating revenues of USD 46.5 billion in 2010."
Mr Martins said that a major Egyptian client continues to produce normally, although operations at a major Libyan client are at a standstill.
Vale earlier this month started up a new 9 million tonnes a year iron ore palletizing operation in Oman to supply Middle Eastern steelmakers with pellets, a semi processed and value added iron ore product. (sourced: Dowjones)
Mr Jose Carlos Martins executive director at Vale said that "Only 3% of our sales are to the Middle East. Vale notched up operating revenues of USD 46.5 billion in 2010."
Mr Martins said that a major Egyptian client continues to produce normally, although operations at a major Libyan client are at a standstill.
Vale earlier this month started up a new 9 million tonnes a year iron ore palletizing operation in Oman to supply Middle Eastern steelmakers with pellets, a semi processed and value added iron ore product. (sourced: Dowjones)
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