Brazilian iron ore producer Vale will invest $2.7 billion in its S11D iron ore mine in the Amazon region to increase its capacity by 30 million mt with the expectation that demand for high-grade iron ore will remain strong, according to media reports.
The investment is part of the company’s plan to increase its capacity in northern Brazil to 260 million mt by 2050.
S11D iron ore mine has an annual production capacity of 90 million mt.
The company produced 66.77 million mt of iron ore fines in the first quarter this year.
