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Vale drops iron ore bombshell

World's biggest iron ore miner puts faith in future iron ore price direction

Mining Journal
Ahead of schedule … Vale’s 90Mtpa S11D iron ore project in Carajás, Brazil (photo: Vale)

Ahead of schedule … Vale’s 90Mtpa S11D iron ore project in Carajás, Brazil (photo: Vale)

On a recent investor tour of its operations in Brazil, Vale said it would close any of its iron ore mines which did not generate positive cash flow at a price of US$45/t. The company previously said it...

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