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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: TobagoJack who wrote (50867)	1/26/2006 6:14:38 PM
From: shades	Read Replies (1) of 110194

DJ Brazil Miner CVRD Studies Building Pellet Plants In China . SAO PAULO (Dow Jones)--Brazilian mining giant Companhia Vale do Rio Doce (RIO), or CVRD, is evaluating the possibility of building iron pellet plants in China, the company's CEO said Thursday. "It's nothing more than studies at this point," said CVRD President Roger Agnelli. "If there exists an alternative to investing where costs are inferior to Brazil, it needs to be evaluated." Agnelli made the comments during a press conference to announce the company's 2006 capital investments. Iron pellets are prized for their efficient use in blast furnaces. They also appeal to mining companies because lower iron content ore fines can be concentrated and used to make pellets, extending mine life and adding to margins. Agnelli said that the company was evaluating where it could build plants, as well as the cost of the projects and the speed with which they could be built. He added that the company's positive experience with its joint-venture investments in China has made additional projects in the Asian industrial giant appealing. The company has joint ventures to develop metallurgical and thermal coal deposits in China, as well as 25% stake in Shandong Yankuang International Coking. The coke plant will be completed in July, Agnelli said. The coke project will have installed capacity to produce 2 million metric tons of coking coal per year, as well as 200,000 tons of methanol annually. Agnelli added that any projects the company pursues outside of its home base wouldn't affect the company's investments in Brazil. He stressed that projects covered in the company's latest capital investment budget that have already been approved by the company's board are already underway.

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