Mining Company Vale Aims to Invest US$ 5.8 Billion in Northern Brazil

Written by Roberta Souza

Published on 25/01/2021 at 17:31

Vale

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Of The Total Investments By Vale, About 81% Will Be Allocated To Expansion Projects In The Northern Region

Vale, a Brazilian multinational and one of the largest logistics operators in the country, plans to invest $5.8 billion in the northern region of Brazil, of which $1 billion will be used solely for expansion. This amount will be repeated in subsequent years. By 2024, the miner expects to invest $2.7 billion in iron ore projects solely in the region, extracting the purest products.

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The state of Minas Gerais, marked by two recent dam tragedies and a hub for mining operations, remains significant, especially for having a lower iron content, which when mixed with Carajás produces BRBF, sold in China.

Currently, Vale’s main objective is to replace production losses in the state of Minas after Brumadinho and to prevent new accidents. In December, a worker was killed in a landslide at the Córrego do Feijão mine. At the same time, if an agreement is not reached with the Minas Gerais state government, the company risks facing a multi-billion dollar sentence.

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Carajás Complex

Located in the municipality of Canaã dos Carajás, in southeastern Pará, S11D is the largest mining complex in Vale’s history. It is an undertaking that fits the model of sustainable mining. The iron ore from Carajás with an iron content of up to 66% contributes to Vale’s business strategy of providing products that can help customers such as Chinese steel producers reduce carbon emissions.

Elmer Prata Salomão, a geologist and consultant, says that “Carajás is a fantastic deposit, which still has strong potential to be explored and an exceptional logistics already implemented. The mines in the Iron Quadrilateral will not be abandoned, but they are already mature.”

Mining Company Vale Aims to Invest US$ 5.8 Billion in Northern Brazil

Of The Total Investments By Vale, About 81% Will Be Allocated To Expansion Projects In The Northern Region

Check Out Other News Of The Day:

Carajás Complex

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