Brazilian mining giant Vale and China's Jinnan Steel Group have announced a joint investment of $627 million to build an iron ore concentration plant in Sohar, Oman.
This facility will process 18 million tons of low-grade iron ore annually, producing 12.6 million tons of high-grade concentrate starting in mid-2027.
Vale will invest $227 million to connect the plant to its regional facilities, while Jinnan will invest $400 million to build and operate the plant.
This project aims to meet rising global demand for high-quality iron ore and strengthen Vale's presence in the Middle East.Avice Mining News https://avice.org
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