Vale plans to invest 70 billion reais ($12.2bn) in its Carajas mining complex by 2030, aiming to increase iron ore and copper output. The investment announcement comes amid governmental scrutiny and will involve key collaborations and technological upgrades, aligning company projects with Brazil’s development objectives.
Brazilian iron ore producer Vale is poised to announce a major expansion of its Carajas mining operations in northern Brazil this Friday. The Brazilian government confirmed that Vale plans to invest 70 billion reais (approximately $12.2 billion) by 2030. This investment seeks to boost iron ore and copper production at Vale’s largest complex, which accounted for over half of its total output last year.
The announcement will occur at an event attended by Brazilian President Luiz Inacio Lula da Silva and his cabinet. Vale has not publicly commented on the investment yet. The Carajas complex in Pará state has been crucial to Vale’s operations, especially following governmental criticism regarding previous investments and the aftermath of the 2015 dam collapse.
Last month, Vale’s CEO Gustavo Pimenta discussed the alignment of the company’s projects with Brazil’s development goals in a meeting with President Lula. In addition to enhancing iron ore production, Vale is also involved in copper and nickel mining at its Sossego, Salobo, and Onca Puma mines located in Pará.
To further commit to the Carajas complex, Vale signed a 1.8 billion reais service agreement with Wabtec in June 2024 aimed at upgrading its Carajás Railway locomotive fleet. In a move towards modernity, Vale also initiated the use of six autonomous trucks in 2021, each with a hauling capacity of 320 tons, following successful trials that began in 2019.
Vale’s planned 70 billion reais investment in the Carajas complex underlines its commitment to enhancing production capabilities in iron ore and copper. This expansion not only reflects Vale’s strategic focus amidst prior criticisms but also aligns with broader national development goals under President Lula’s administration. The utilization of advanced technology, particularly autonomous vehicles, further emphasizes Vale’s intent to modernize its operations.
Original Source: www.mining-technology.com
