CVRD goes toe-to-toe with Rio

BRAZIL’S iron ore giant CVRD is responding to the challenge thrown down by Rio Tinto with plans to spend up to US$2 billion in an effort to substantially boost production.

CVRD goes toe-to-toe with Rio CVRD goes toe-to-toe with Rio CVRD goes toe-to-toe with Rio CVRD goes toe-to-toe with Rio CVRD goes toe-to-toe with Rio

Chief executive Roger Agnelli told a media briefing that CVRD planned to lift output from its flagship Carajas mine from this year’s 59 million tonnes to 85Mt in 2006.

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