Vale planning to expand iron ore capacity in Amazon with $2.7 billion investment
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Update time : 2023-05-29 17:19:09
Vale S.A. (Vale), a Brazilian multinational corporation engaged in metals and mining, is planning to invest US$2.7 billion to increase output by 20 million tons at its S11D iron ore mine in the Amazon region, northern Brazil, as the company thought demand for high-grade ore will be strong in spite of a weak market.
This expansion plan of the S11D mine was part of the company’s plan to supply 260 million tons of iron ore from its northern operations in Brazil's Amazon by 2025.
The S11D mine uses electric excavators and conveyor belts instead of trucks and mobile crushers, so 60% of diesel consumption is reduced, softening the mining impact in the Amazon region.
