Vale raise the price of ore at 8,8%

The Brazilian mining company Vale to increase prices for iron ore deliveries for the I quarter of 2011 to 8,8%. It is reported by Reuters. It is assumed that the cost of raw materials of the mining giant will be 149.2 dollars per ton. As is known, Vale plans to sell the Indian metallurgical companies coking coal from the mine Moatize in Mozambique. It is assumed that the export of coal from the mine will begin in August next year. The number of Indian holdings, are interested to buy coking coal from Vale, joined SAIL, JSW Steel and Jindal Steel and Power. Recall that Vale has recently withdrawn its shares on the Hong Kong Stock Exchange. Previously reported that the Vale in September 2010 compared with September 2009 increased export of iron ore at 11.31% to 25.98 million tons. In January-September, the foreign supply of ore Vale was 184.02 million tons, up 12.78% compared with last year. Brazilian company Vale is one of the largest producers of iron ore in the world. In the I quarter of 2010 compared to same period in 2009, the company increased production of iron ore 42.9%, to 69.06 million tons. Ministry of Industry