March 22, 2005
Mining giant CVRD: first studies from Venezuela's Socuy

(BNamericas.com) - "Mining giant CVRD, the world's largest iron ore producer, should have the first assessments of Venezuela's Socuy coal deposit completed in the next two months, a company executive said.

'This is a very important deposit' for CVRD, business development director José Carlos Martins told BNamericas. 'It's a deposit 100km from the coast in a very favorable position for exploration,' he said.

'It's very close to the American market, which is demanding this type of coal,' Martins said. The 'world-class' deposit contains more than 30% high quality coal that can be used for metallurgical purposes.

CVRD also is involved in exploring coal deposits in Australia, China and Mozambique, Martins said. The company has previously said it will continue to pursue opportunities to explore and mine coal deposits as a way to diversify its mining operations (...)".