Brazilian Mining Giant: Quake Not Affecting Iron Ore Sales to Japan

Brazil's mining giant Vale, the world's leading iron ore producer, said on Thursday that last week's 9-magnitude earthquake and tsunami in Japan did not affect the sales to the Asian country.

"According to available information, the impact on Japanese steelmakers has been limited despite the magnitude of the natural events, and most of them have resumed operations," said the company in a statement released earlier in the day.

Vale reported that it has 56 ships waiting to be loaded at its ports, nine of which are destined to Japan. In 2010, Vale's shipments of iron ore and pellets to Japan amounted to 30.8 million tons, which represents 10.5 percent of the company's total sales in the year.

The company also said that its operations in Japan have continued, and that its nickel refinery in Matsuzaka in southern Japan is operating normally.

In Vale's Tokyo commercial office, the 21 employees are working at their homes due to the possibility of new earthquakes, and also in order to save energy. They will continue to perform their duties in this manner until the situation in the country returns to normal.

The company reaffirmed its unconditional support to Japan and said it is offering complete flexibility in administering the shipment programs of its Japanese customers, enabling increases or decreases in volumes and changes in quality and product type, as well as redeploying ships.