Brazilian iron ore producer and miner Vale said it invested about BRL 9.4 billion in the accumulated period of January to September this year in mining, logistics and mining research in Pará state. Out of the BRL 9.4 billion investment, about BRL 3.2 billion was for purchasing materials from local Pará state suppliers.
The company said BRL 1.1 billion was used to pay local suppliers in the city of Parauapebas, BRL 1 billion for suppliers in Maraba, BRL 800 million for suppliers in Canaã dos Carajás, where it owns the S11D iron ore mine, BRL 200 million for suppliers in Ourilândia and BRL 100 million for suppliers in Curionópolis.
According to Vale's estimate, the company paid BRL 776.7 million in iron ore royalties in the 9-month period, a tax the Brazilian government requires mining companies to pay.