Commodities
Vale’s New CEO to Focus on Boosting Iron Ore Despite Weak Demand
- Brazilian miner aims to be main provider of high-quality ore
- Government relations also on CEO’s to-do list, chairman says
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Vale SA’s next chief executive officer has been tasked with maximizing iron ore output to boost efficiencies at the Brazilian mining giant despite China’s fading appetite for the steelmaking ingredient.
“The company’s main objective is production,” Chairman Daniel Stieler said Tuesday in an interview at the company’s headquarters in Rio de Janeiro. “When you improve production, your cost and project management automatically adjust.”