Vale announces R$ 70 billion investment in sustainable mining expansion

Brazilian Vale announced an investment of R$ 70 billion in the expansion of iron and copper mining in Carajás, to be realized from 2025 to 2030. The program, named “Novo Carajás”, aims to maintain iron ore volumes and expand copper production, which are essential for green steel and the energy transition. The project expects iron ore production to reach 200 million tons per year by 2030 and copper production to grow by 32% to about 350,000 tons. The CEO stated that this initiative positions Brazil as a leader in supplying critical minerals necessary for climate change mitigation.