Brazil miner Samarco eyes regaining No. 2 iron ore pellet exporter spot in 2028 (updated)

Vale

25/08/2026 20:45

Updates with further remarks from Samarco's CEO in bullets 2-5, context about the company in bullet 1
BELO HORIZONTE, Aug 25 (Reuters) - Brazilian miner Samarco, a joint venture between Vale VALE3.SA and BHP BHP.AX, expects to regain the position of world's second-largest exporter of iron ore pellets starting in 2028, the firm's Chief Executive Officer Rodrigo Vilela said on Tuesday.
Samarco has fallen in the pellet exporters ranking, which is led by Vale, after halting some operations following the deadly collapse of its Fundao tailings dam in 2015
Samarco expects to again reach full capacity -- 26 million to 27 million metric tons per year of iron ore fines and pellets -- in 2028, from about 60% of that amount currently, Vilela said 
To implement the plan, Samarco expects to invest 13.8 billion reais ($2.7 billion), he added during a mining event in the Brazilian city of Belo Horizonte
Samarco's current focus is on reparations related to the dam collapse and on restoring output capacity, but it could seek to expand production capacity in the future, Vilela said
The firm expects to produce 2 million tons of iron ore fines from tailings by 2028, compared to 300,000 tons so far in 2026
($1 = 5.1479 reais)

 (Reporting by Marta Nogueira; Writing by Andre Romani; Editing by Chris Reese and Aurora Ellis)
 ((Andre.Romani@thomsonreuters.com;))