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Vale Announces Billion-Dollar Investments in Minas Gerais by 2030, Including Mine Reactivation, Decarbonization Technologies, Circular Mining, and Global Expansion, According to CEO Gustavo Pimenta in Exclusive Interview with O Tempo Newspaper.
The mining company Vale will invest R$ 67 billion in Minas Gerais by 2030 to expand production, reinforce dam safety, invest in new technologies, and accelerate the decarbonization agenda.
The information was provided by the company’s CEO, Gustavo Pimenta, in an exclusive interview with the newspaper O Tempo this Tuesday (09).
“Minas has been the past, is the present, and will be the future of Vale. There is a huge growth opportunity,” Pimenta stated, highlighting that the state could reclaim its position as the largest producer of iron ore for the mining company, surpassing Pará.
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Reactivation of the Capanema Mine in Ouro Preto
One of the already completed projects is the reopening of the Capanema mine in Ouro Preto, which had been suspended since 2003. According to O Tempo, the operation required R$ 5.2 billion in investments.
“It’s a project of 15 million tons that is coming into operation. All our complexes in Minas are growing. Last year we produced 125 million tons, and we have a growth plan of up to 20 million tons on that base,” the executive explained.
Dam Safety After Brumadinho
Pimenta also emphasized that the company is committed to transforming dam management after the Brumadinho tragedy.
“We made a commitment to the mining community to eliminate the upstream dams. There are 30 in total, and 60% of the program has already been completed,” he said.
According to the local newspaper, the CEO celebrated the recent reduction of the emergency level of the last structure that still posed a high risk.
“Today Vale has no dams at the highest emergency level. This shows the tremendous progress we have made in recent years. We are achieving the best safety performance in our history.”
Circular Mining and Reprocessing of Waste
Another investment front is the reprocessing of waste, which is considered essential to reduce environmental impacts.
“Reprocessing waste means practicing circular mining. Last year, we produced almost 13 million tons from this. This year we aim to reach 20 million, and by 2030 we will hit 30 million,” Pimenta stated to O Tempo.
According to him, current technology allows for the recovery of minerals that previously had no economic value.
“We see plenty of opportunity to generate value from something that in the past was a liability. It’s positive because it reduces impacts and brings environmental and operational benefits.”
Ethanol Trucks and Decarbonization Agenda
The executive also explained the company’s initiatives to reduce emissions.
“Our mission is to help our customers decarbonize. We are developing products like green briquettes, which are already in industrial testing worldwide and reduce the carbon footprint of steel,” he stated.
Regarding transportation, he added: “We have 172 ships in operation. We are testing biofuels and have already started experiments with ethanol in giant trucks. The results have been good. Now we are also beginning to test it on ships.”
Minas Gerais Can Regain Leadership
When asked if Minas Gerais could regain leadership in Vale’s production, Pimenta declared:
“It’s a good competition. The ore here is different from Pará’s, and we have the flexibility to meet any market demand. Minas can certainly claim that spot again.”
According to him, the global scenario favors this comeback. “Perhaps our ideal number is around 360 million tons per year. We are very close to reclaiming the position of the largest iron mining company in the world.”
India as a Strategic Bet for Vale
China will remain Vale’s main market, but India emerges as a strategic opportunity.
“India is growing at 12% per year in steel production. They have ore, but of low grade. Our ore mixes perfectly with theirs, creating a competitive advantage,” he explained to O Tempo.
“I was there recently and saw a lot of optimism. They want to develop blending centers with us. It’s a market opening for Vale, but not for our competitors.”
Mineral Diversification in Copper and Nickel
The company is also targeting other strategic minerals.
“We want to double our copper production. It’s a metal without substitutes and essential for electrification. In nickel, we remain leaders in the West, even with challenges in the global market,” he stated.
According to him, the company’s focus is to strengthen what it already knows well. “Currently, our priority is to invest in what we know best. Copper and nickel play a central role in the energy transition.”
Autonomous Mining in Brucutu
In Minas, the Brucutu mine is the company’s technological showcase.
“It is 100% autonomous. Trucks and equipment operate independently, even in fog. It consumes less fuel, emits less CO2, and is safer,” he described.
Pimenta added that this model should be replicated. “The autonomous mine generates a different kind of work. Now, people will analyze data and increase efficiency. It’s the mining of the future.”
Environmental Preservation and Legacy
When discussing reserves, the CEO emphasized the company’s scale.
“We have around 12 billion tons of reserves in Brazil. This ensures several generations of mining,” he said.
He also highlighted the environmental commitment. “We currently manage over 1.1 million hectares. Just in the Carajás National Forest, there are 800 thousand. That’s five times the size of São Paulo city. In Minas, the area we preserve is double that of Belo Horizonte,” he stated to O Tempo.
With billions in investments, international expansion, and a focus on clean technologies, Vale envisions a future in which it aims to balance production, safety, and preservation.
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