The well-known private Brazilian mining company Itaminas will reduce the production of iron ore at its plant in Sarcedo in the state of Minas Gerais, explaining this by increasing costs, primarily for shipping, which have risen in price due to the conflict in the Middle East. The company also announced that it will send 300 employees, one third of its direct staff, on collective leave for one month.
At the same time, the company's work will not stop completely, the company stressed. Itaminas has already notified employees, trade unions and the Ministry of Labor about the vacation period, which will begin on September 28.
The company added that the pause will be used to modernize the plant, primarily its technological part. The corresponding investments have already been included in the annual budget.
Itaminas' iron ore production capacity is currently estimated at 6.5 million metric tons per year, but expansion plans suggest an increase to 10 million tons per year.
The company's product line includes granular raw materials, agglomerate and small pieces.
The iron content in granular raw materials is 62-64%, while in agglomerate and small pieces it is in the range of 56-58% (3:1 ratio).
Small pieces, known as hematite, have a size of 13-19 millimeters and are used as raw materials for small blast furnaces of independent cast iron producers in the southeastern the states of Minas Gerais and Espiritu Santo.
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