Brazilian mining giant Vale SA (VALE5.SA: Quote) said it expects total iron ore production to rise 50 percent by 2015, an executive said on Tuesday Brazilian mining giant Vale SA said it expects total iron ore production to rise 50 percent by 2015, an executive said on Tuesday.
Vale Minerals China Co President Luiz Meriz, speaking at a financial forum in Hong Kong, said Vale was making large investments to increase iron ore production to satisfy growing Chinese demand.
"We expect production to increase 50 percent by the year 2015 when we should be producing about 450 million tonnes of very high quality iron ore," Meriz said, adding that basically all additional production was likely to serve the Chinese market.
