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...


December 22, 2011

17:22 GMT