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MEI Online: Commodities: Metallic Ores: Iron: Latest News: November 25th 2011


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:: Vale's Technology Institute Plans to Hire 100 Researchers

Vale SA, the world's largest iron-ore producer, plans to hire 100 researchers for its technology institute as it seeks to boost production and meet growing demand for the metal. The Vale Technology Institute, which the Rio de Janeiro-based company established in 2009 as a non-profit organization to conduct scientific research for the mining industry, has hired 11 specialists and expects to have more than 60 by the end of next year, Luiz Mello, executive director of the institute,said in an interview today in London. "For us, it's a question of increasing volume and getting more of the product to the consumer market," Mello said."Prices are good now. They may not be the same in the future."

The researchers include scientists from Belgium's Ghent University, Australia's University of Queensland and Brazil's federal universities of Para and Lavras. They will be based at two facilities being built in the states of Minas Gerais and Para, Mello said. The institute plans to invest 350 million reais ($200 million) in the centers, which will offer postgraduate courses, accommodating about 300 professors and students.

Vale is expanding its iron ore, nickel and copper production as its seeks to tap higher demand from China andother emerging markets for minerals and metals. The company expects to boost iron output to 469 million metric tons by 2015, 51 percent more than an estimated 311 million tons this year, it said..




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