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Brazil Vale's Serra Sul Project to Have Company's Lowest Costs - Martins

SAO PAULO--Brazilian mining company Vale SA (VALE, VALE5.BR) said Wednesday its new Serra Sul iron-ore project in the Brazilian Amazon will have the lowest production costs among the company's mines. Serra Sul, the world's biggest iron-ore project to date with a projected annual output of 90 million metric tons of high-quality iron ore, will have "extremely low costs," Vale's ferrous and strategies director, Jose Carlos Martins, said at the Brazil Steel Institute annual congress in Sao Paulo. Serra Sul, due to start producing in 2016, will export iron ore to Asia, where Vale currently sells as much as 70% of its iron ore, as crisis-ridden Europe is only showing "marginal demand," Mr. Martins said. China, Vale's single biggest customer for iron ore, currently consumes 50% of the world's seaborne iron ore and 80% of the world's total iron-ore output, including the country's own production, Mr. Martins said. Due to continued steel demand for urbanization projects, China may eventually consume as much as 90% of the world's total iron-ore output in coming years, Mr. Martins said. Write to Diana Kinch at diana.kinch@dowjones.com.

Stock News for Companhia Vale Do Rio Doce (VALE)
DateTimeHeadline
04/15/201506:02:17Report of Foreign Issuer (6-k)
04/14/201510:08:35Fortescue Overhauls Worker Rosters to Cut Costs -- Update
04/14/201507:58:25S&P warns on global miners including BHP, Rio, Vale
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04/10/201520:45:45Better Late Than Never, Cuba Attends
04/10/201506:02:14Report of Foreign Issuer (6-k)
04/08/201506:02:52Report of Foreign Issuer (6-k)
04/07/201516:30:15Report of Foreign Issuer (6-k)
04/02/201511:31:23Iron Ore's Meltdown Raises Questions About Miners
04/01/201509:40:23Report of Foreign Issuer (6-k)
03/31/201509:11:46Iron Ore Miners Rio, BHP And Vale Race To The Bottom, Steel Prices...
03/27/201518:28:00Vale should sell stake in Carajas iron ore mine, analyst says
03/27/201510:36:08Petrobras Nominates Vale CEO as Its Next Chairman--Update
03/27/201510:10:48Petrobras Nominates Vale CEO as Its Next Chairman
03/27/201510:00:21Petrobras Nominates Vale CEO as Its Next Chairman
03/27/201508:04:18Why Fortescue Metals' Call For Cap On Iron Ore Production Will...
03/24/201517:40:07Brazilian Real Strengthens After S&P Ratings Decision; Shares...
03/24/201507:11:27Vale: Near-Term Prospects Remain Bleak
03/21/201508:06:014 Dangerous Dividend Stocks You Should Avoid
03/20/201517:30:54Annual and Transition Report (foreign Private Issuer) (20-f)

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