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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
04/15/201417:02:39ADR Shares End Lower; Infosys, Diageo Shares Active
04/15/201413:06:06Brazil's Vale Secures Loan Package From BNDES -- Update
04/15/201410:02:19Brazil's Vale Secures BRL6.2 Billion Loan Package From BNDES
04/11/201409:43:44Brazil's CVM Authorizes IADB to Issue Debt in Local Markets
04/09/201408:44:34BSG Resources, Vale Face Loss of Guinea Licenses -- Update
04/08/201413:20:03Veolia Seeks More Revenue from Mining Industry's Water, Waste...
04/02/201418:27:45Vale Suspends Transporting Coal From Mozambique Mines -- Update
04/02/201416:55:18ADR Shares End Higher; Noah Education Shares Active
04/02/201415:58:33Vale Suspends Coal Shipments From Mozambique Mines
03/19/201412:23:43Vale Says Stock Price Pressured by China Worries
03/11/201417:21:55ADR Shares End Lower; Vale, Barclays Shares Active
03/11/201413:41:59Brazil's Petrobras Reveals BRL8.77 Billion in Tax Disputes
03/04/201417:13:52Glencore Xstrata Posts Large Loss -- 2nd Update
02/27/201414:51:43Brazil's Vale Doesn't Foresee New Debt Issuance This Year
02/27/201413:04:26Brazil's Vale Develops Green Iron Ore To Reduce China Emissions
02/27/201412:33:45Brazil's Vale Sees Ebitda In Base-Metals Division Surging
02/27/201407:21:49Falling Iron-Ore Prices Pinch Producers -- Update
02/26/201421:58:20Vale Posts Smallest Annual Profit Since Privatization -- Update
02/26/201420:30:25Brazil's Vale Posts Its Biggest Loss
02/26/201419:46:50Brazil's Vale Sees Chinese Economic Growth Gradually Slowing...

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