Vale Brucutu mine near resumption of production iron ore mining stocks were lower
Vale has won approval from a Brazilian judge to resume use of a group of tailings DAMS from a large iron ore mine, taking an important step towards partially restoring capacity that was suspended after the collapse of the dam in January.Judge Belo Horizonte Nelson Missias DE Morais decided to partially overturn the ban issued in March.The ban requires vale to stop using Sul, B3 and Sabia tailings DAMS.A court spokesman confirmed the judge's ruling on Tuesday.The reopening of the 30m tonnes of Brucutu iron ore deposit could help alleviate the global iron ore shortage caused by supply disruptions in Brazil and Australia.Vale did not immediately respond to a request for comment.The Rio DE janeiro-based company is the world's largest exporter of iron ore.Vale has 93m tonnes of capacity offline and the Brucutu mine is its best chance of getting some of it back online and meeting its target cap of 307m to 332m tonnes of shipments this year.Vale said last month it had planned to sell 382m tonnes in 2019 before the disaster.CLF shares fell as much as 7.5 percent, BHP billiton fell 1.4 percent and Rio tinto American depositary receipts fell as much as 4.3 percent.
Cangzhou Steel Pipe Group (CSPG) Co., Ltd
Cangzhou Steel Pipe Group (CSPG) Co., Ltd. is a large-sized, key metallurgic enterprise of Hebei Province in North China, whose history dates back to 1994. CSPG currently em/paces six member companies with products varying from SSAW, LSAW, ERW, seamless steel pipes to 3PE pipes, galvanized pipes, casing pipes, etc. A Joint-stock corporation, CSPG occupies an area of 600,000 square meters with a total asset of $530 million.
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