Vale SA told reporters Tuesday that it will soon commence its US$3.5 billion Carajas Additional 40 Mtpy project in Brazil as it expands production.
According to Paulo Horta, the company's North Ferrous Director, Vale expects to obtain the operational license for the project this month. The $3.48 billion Carajas Additional 40 Mtpy project consists of the construction of an iron-ore dry processing plant that will have an estimated annual output capacity of 40 million metric tons.