CVRD to increase capacity of Carajas mine
Brazilian mining company Companhia Vale do Rio Doce (CVRD) reportedly plans to expand the annual production capacity of its Carajas mine to 100 million tons by 2007. This year's production target is set at 85 million tons. CVRD officials indicate that the capacity expansion is necessary since iron ore demand is surging on the back of strong steel demand. CVRD also intends to invest $500 million in port and railroad facilities in order to support the capacity expansion.