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Vale Advances with Billion-Dollar Investment to Explore One of the Largest Copper Deposits in Pará, Aiming to Transform the Local and National Economy. The New Phase of Mining Promises Significant Impacts, but Still Holds Surprising Details About the Future of the Metal in Brazil.
Vale obtained the preliminary license to begin copper mining at the Bacaba deposit in Canaã dos Carajás (PA), the company revealed on Monday (June 16, 2025).
The announcement comes amid the mining company’s effort to consolidate its presence in this sector, doubling copper capacity by 2035.
The issued license is valid for the Bacaba project, covering the initial implementation phases.
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With an investment of approximately US$ 290 million, the copper project is expected to secure around 50,000 tons annually over the entire estimated cycle of eight years of operation.
Production is expected to begin in the first half of 2028.
Vale highlights that the Bacaba copper project represents the first of several plans to increase the company’s presence in the Carajás mineral province as part of its global strategy.
Copper Project Aims to Extend the Lifespan of the Sossego Complex
The project focuses on extending the lifespan of the Sossego Complex, gradually replacing the production of the currently declining mine.
The copper project is expected to generate, on average, 50,000 tons per year, also incorporating existing infrastructure such as roads, crushers, and the Sossego processing plant.
Following the announcement of the preliminary license, Vale’s shares on the New York Stock Exchange rose by about 3.4%, reaching US$ 9.77, generating a market capitalization close to US$ 42 billion.
Copper is a Strategic Metal for Energy Transition
Experts emphasize that Brazil is crucial in the global context of copper mining, a strategic metal for energy transition, renewable energy, and electric mobility.
Vale, through its subsidiary Vale Base Metals (where it holds 90%, and 10% belongs to the joint venture Manara Minerals, between Ma’aden and the Saudi fund PIF), has positioned itself among the major players in the sector.
According to Vale Base Metals CEO, Shaun Usmar, the strategy is to double annual production capacity by 2035, reaching 700,000 tons — which includes both copper and nickel — and to position the company among the top five in the world in base metals.
The Bacaba copper project is the initial piece of this broader plan.
In July 2024, Usmar took over the leadership of the non-ferrous division, focusing on productivity, costs, and sustainability.
Investment in Pará Could Generate Jobs and Taxes
The forecasted investment of US$ 290 million for the implementation phase should cover mine works, access infrastructure, waste management systems, and operational facilities.
This amount is aligned with the average for medium-sized projects in the sector.
The financial return, according to Vale’s projections, will come from copper sales and the extension of the Sossego mine’s life, which will bring economies of scale due to the use of the same logistics.
Communities Participated in Public Hearings
The obtaining of the preliminary license was accompanied by the requirement for public hearings with residents of Canaã dos Carajás and neighboring communities, called by Vale in October 2024 as part of the environmental licensing phase.
According to Vale’s compliance model, all potential areas underwent environmental impact studies, mitigation plans, water use, and waste control, following the rules of the National Mining Agency (ANM) and licensing from IBAMA.
Vale Projects Timeline Until 2028
The expectation is that the production surplus will ensure new jobs, both in construction — estimated to be in the hundreds of direct vacancies — and in the operation of the mine, strengthening the local economy in Pará.
Additionally, it is expected that tax revenue from royalties and ICMS will benefit municipalities and the state government.
Besides the direct impact, Vale intends to generate indirect effects in the service chain such as transportation, food, lodging, and commerce, leveraging the existing infrastructure of the Carajás railway, which is crucial for transporting the production.
With the approval of the preliminary license, Vale’s timeline continues as planned:
- 2025–2026: project detailing, complete licensing (LP, LI, LO).
- 2027: preparation and civil works, electromechanical assembly.
- 1st half of 2028: start of production.
At the same time, the company will consider future expansions in other copper mining projects in the region, focusing on increasing added value through brownfields — like Bacaba — and regional studies.
Brazil Increases Its Role in Copper Mining
At a time when global demand for copper remains high — driven by clean technologies, electrification, and digitalization — Brazil is gaining prominence, viewed as a strategic reserve capable of attracting investors.
The Bacaba project highlights this resurgence of national prominence, aiming for scalable production with socio-environmental responsibility.
Amidst international competition, Vale expands its portfolio of copper mining and reinforces its commitment to sustainable practices, risk management, and promoting shared value with the surrounding community.
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