Vetorial stays in pig iron despite ambitious iron ore venture

Brazil’s Vetorial Participações will keep its merchant pig iron business despite moving into a 7.6 billion Reais ($4 billion), 20 million-tpy iron ore joint venture called Vetria Mineração.

Vetorial even plans to resume work on the installation of a pig iron plant in Argentina, the first move ever made by a Brazilian firm into pig iron production abroad.
“This project was on stand-by because of other priorities, like Vetria… [but] we should begin construction in the first half of the year, with commissioning in 18 months,” Renato Vilela, Vetorial new business director, told Metal Bulletin.

To be...

Published

December 22, 2011

17:22 GMT