New Delhi [India], February 21 (ANI): Vale CEO Gustavo Pimenta has identified India as one of the most promising global markets for iron ore and strategic minerals, underscoring the company’s intent to deepen partnerships in the country. He was speaking at the Brazil-India Business Forum in New Delhi on Saturday.
Highlighting mining’s central role in modern life, Pimenta said the sector will gain even greater relevance amid the global energy transition and rapid digitalisation. Citing industry estimates, he noted that mineral supply will need to expand five to six times the current installed capacity to meet future demand, presenting a significant challenge and opportunity for mining companies, as cited by Brasil 247
Pimenta said Vale’s engagement with India has grown steadily. While sales in the Indian market were modest three to four years ago, the company sold 10 million tonnes of iron ore in India last year. With India currently producing around 180 million tonnes of steel annually — a figure projected to exceed 300 million tonnes in the next decade — he described the country as a high-potential destination for infrastructure and manufacturing-driven demand.
Although India has domestic iron ore reserves, Pimenta emphasised Vale’s competitive edge in supplying high-grade ore, which supports steel decarbonisation by lowering emissions in production processes.
He also announced the signing of a memorandum of understanding with MMDC and Denny Ports to explore the development of a blending centre in India, similar to Vale’s facilities in Malaysia and China. The company is evaluating options on both the eastern and western coasts.
Beyond iron ore, Pimenta highlighted Vale’s leadership in nickel and copper, key minerals for energy transition and artificial intelligence technologies. He reiterated that partnerships with Indian stakeholders will remain central to Vale’s long-term growth strategy in the country. (ANI)