NEW DELHI, February 21 — Gustavo Pimenta, Chief Executive Officer of Vale, identified India as one of the world’s most promising markets for iron ore and strategic minerals, highlighting the company’s plans to expand partnerships and investments in the country.
Speaking at the Brazil-India Business Forum in New Delhi, Pimenta emphasized the growing importance of mining amid global energy transition and digitalization trends. He noted that mineral supply will need to increase five to six times current installed capacity to meet future global demand, presenting both significant challenges and opportunities for the sector, according to Brasil 247.
Pimenta said Vale’s presence in India has expanded steadily in recent years. While sales were modest just three to four years ago, the company sold approximately 10 million tons of iron ore in India last year.
With India currently producing about 180 million tons of steel annually — a figure expected to surpass 300 million tons within the next decade — Pimenta described the country as a key market driven by infrastructure development and manufacturing growth.
Although India has substantial domestic iron ore reserves, Pimenta said Vale’s high-grade iron ore offers a competitive advantage by helping reduce emissions during steel production, supporting decarbonization efforts.
He also announced the signing of a memorandum of understanding with NMDC and Denny Ports to explore the development of a mineral blending center in India, similar to Vale’s existing facilities in Malaysia and China. The company is evaluating potential locations on both the eastern and western coasts.
Beyond iron ore, Pimenta highlighted Vale’s leadership in producing nickel and copper, both critical minerals for energy transition technologies and artificial intelligence infrastructure. He emphasized that collaboration with Indian partners will remain central to Vale’s long-term growth strategy in the country.
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