Middle East steel sector growth attracts leading iron ore producer

Muscat: Brazilian mining company Vale yesterday announced the opening of its Middle East office in Oman.

The opening of the office in Muscat is part of Vale's strategy ti support steel sector growth in the Middle East and position itself as the best supplier for its Middle Eastern, North African and Indian customers.

Vale is the world's second largest diversified mining company, with a market capitalisation exceeding $ 150 billion. It is the world's largest iron ore producer and one of the world's biggest producers of nickel. Vale also produces manganese, ferroalloys, copper, aluminum products -bauxite, alumina and aluminum, kaolin, potash and coal.

Headquartered in Rio de Janeiro, Brazil, Vale has commercial and exploration offices in more than 30 countries.

Country head

Vale has appointed Sergio Leite as its Oman country manager to lead the company's efforts.

"Oman was an obvious choice when selecting a location for our office in the Middle East. Its strategic location on the Arabian peninsula will play a key role in boosting our competitiveness in the Middle East, North African and Indian markets", said Leite.

"Oman is already well established as a trading post and its deep water port and industrial areas are already part of well established distribution networks."

Vale plans to develop an industrial complex in Sohar, comprising a deep water port and a direct reduction pelletising plant.

The company already operates nine pelletising plants in Brazil and is developing a tenth one.