Vale scraps iron ore terminal plans at Ningbo

The industrial conveyor belt between Brazil and China has suffered a glitch. Brazilian miner Vale has scrapped plans first announced two years ago to form a joint venture with China’s Ningbo Zhoushan Port to build, own, and operate a giant valemax terminal at Shulanghu Port in Zhoushan.

Original plans had called for the development of valemax berths and stockyards capable of handling up to 40m tons of iron ore a year.

The two parties said this week the decision had been taken to scrap the terminal plan due to policy changes at the port, and that the original intended site will now be used for other purposes.