The world's largest iron ore producer Vale says the next five years there shall be as much as $1 trillion to develop and expand the iron ore and coal capacity. And the world's second largest iron ore producer Rio group says it will speed up the development in western Australia iron ore project; similarly, BHPB and FMG announced after capacity expansion plans, each make investment on iron ore resources in Africa, global mineral dealer is speeding up the iron ore development, which seems to share the market expectations of 2015 (iron ore prices). "inflection point" is "locked" before the arrival of profit. Company Vale, the Lord Jose Carlos Martins has told local media that Brazil, in the next five years, the company needs to invest mine and infrastructure construction of us $1 trillion to meet the world demands on iron ore, coal and other basic metal, of which there is $200 billion in iron ore. He also thinks that China's steel output this year would reach about 700 million tons, one of the 650 million tons for domestic consumption, 50 million tons for export.
Company Vale in Zambia mining exploration manager in another occasion once said, the company plans in the next five years in Africa there will be more than $12 billion to develop mineral resources. Investment is expected to reach the peak in 2012, amount to $3.3 billion. Africa's largest project is the Mozambique Monetize coal mine, which is expected to in year 2013/2014 can realize annual capacity of 8 million tons of hard coking coal and power coal 4 million tons. While company Vale is different, Australian iron ore producers are now focused on their efforts to expand the capacity in Western Australia. Rio tanto group said yesterday, it will invest 676 million dollars in expansion in northwest Australia for iron ore, to meet the market demands.
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