*The Brazilian mining company Vale has announced that it will invest R$70bn (US$12.3bn) to boost copper and iron ore production at its Carajás mining complex in Pará state over the next five years. Vale says that it expects iron ore production at Carajás to reach 200m tonnes (t) per year by 2030, due to an additional 20m t per year that it expects following expansion of the Serra Sul mine. Vale also expects that its copper production will increase by 32% as a result of the investment, bringing its annual production in the region to around 350,000 t. The company claimed that the investment programme will boost Pará state’s GDP by between R$80bn and R$100bn per year.
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LatinNews Daily - 17 February 2025
In brief: Brazil’s Vale announces major mining investment
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