Vale is in discussions to invest in a deeper port at Alcantara in northern Brazil to accommodate Valemax vessels and increase its exports of iron ore to China and elsewhere. The port of Madeira, adjacent to Alcantara, accounted for 68.6% of Vale’s iron ore exports from Brazil in the 12 months to June 30. Vale’s total Brazilian exports climbed by 11.4% year over year in Q2 as the firm recovered from a mining accident in 2019. Vale has already prioritized shipments to China which climbed by 45.0% year over year in Q2 while those to Asia ex-China and Europe dropped by 17.3% and 58.9% respec...