S11D up and pumping

From BNA:

Brazilian mining giant Vale shipped 719,885t of iron ore from its flagship US$14.3bn S11D Carajás mine in Pará state in January-February.

The figure includes 264,400t in January, when the mine shipped its first exports.

Vale officially cut the ribbon on the project, in Canaã dos Carajás municipality, in December. The first commercial shipment of 26,500t was made on January 17.

Of the total invested in S11D, US$6.4bn was spent on the mine and plant and US$7.9bn on a 101km railroad and an expansion of the Carajás railroad and the Ponta da Madeira port terminal in São Luís, Maranhão state.

That figures should rise to 2mt per month as we enter Q2.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.