Itabira Mining Operations Of Companhia Vale Do Rio Doce

Companhia Vale do Rio Doce (CVRD), founded in 1942, is located near the town of Itabira, Brazil. Its iron ore deposits include over 500 million metric tons (mt) of high-grade hematite and about 2 billion mt of itabirite (banded rock formed by thin alternate layers of hematite and silica). These deposits are part of the Iron Ore Quadrangle, of which the overall reserves have been estimated at more than 30 billion mt. The magnitude of the project meant difficult early years for the company, including large investments, extensive railroad rehabilitation, and construction of ore port and ore handling facilities. Companhia Vale do Rio Doce was organized as a stock company, and 91% of its shares are presently owned by the Brazilian government. Financing has been accomplished in part through loans from international monetary agencies foreign banks, and foreign industry, as well as Brazilian banks. The company markets mainly abroad. In 1967, it exported 10.6 long tons (It) of ore, principally to West Germany, Japan, Netherlands, Italy, France, United Kingdom, and the United States. The Rio Doce geographic region where CVRD operates is strategically located among the large population centers of Rio de Janeiro, Belo Horizonte, Salvador, and Vitoria (Fig. 1). It covers an area of approximately 81,000 sq km in the states of Minas Gerais and Espirito Santo, and its population in 1968 was about 3.5 million. This region presents excellent prospects for development, with factors favorable for forestry, agriculture, grazing, and exploration for minerals other than iron ore, Electric power (hydroelectric plants) is available, as well as two main systems of transportation: the Rio-Bahia highway and the Vitoria-Minas Railroad. Pioneer activities at Itabira started about 1720 as small gold mining centers. The town is about 80 km northwest of Belo Horizonte and