Mining giant to cut two-thirds
According to the Xinhua News Agency: World mining giant CVRD's 21 announced that because of the international financial crisis caused by pellets sharp decline in market demand, with BHP Billiton each holding 50% of Brazil's Marco decided in December, the ball Mission Mine production by two thirds.
Sa Make communique issued by the company said that due to the company's production of pellets for all exports and limited storage capacity and thus have to make cuts. The company plans in mid-January next year to assess whether to resume production.
Sa Make the company said it would continue with the next phase of a feasibility study to expand production, including the construction of the fourth pellet plant, the company's current production capacity to increase by 40%. The company currently has a 3 pellet plant, with an annual output capacity of 21,600,000 tons, is the world's largest supplier of pellets one.
Sa Make the company stressed that the companies have ample financial resources are sufficient to cope with the current situation. Once the pellets increased demand, the company can resume full production capacity.





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