Vale to invest $2.7 billion in Brazil’s northern region

Tuesday, 26 January 2021 21:13:42 (GMT+3)   |   Sao Paulo

Brazilian miner and iron ore producer Vale plans to spend about $2.7 billion in the country’s northern region, according to a media report from Estadao. The region is home to several of the company’s iron ore projects, which produce its higher quality and higher value-added products.

The investment goal should be met by 2024, the media report said, adding that Vale’s multi-billion-dollar investments are aimed at capacity expansion.

Vale should spend a combined $5.8 billion in 2021, out of which $1 billion should be focused on expansion projects.

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