Vale plans to invest a total of $70bn reais between 2025 and 2030, aligning with its strategic planning in the Carajas region. Credit: Vale.

Brazilian miner Vale has announced a $70bn reais ($12.26bn) investment plan aimed at maintaining iron ore production volumes and expanding copper output in its main Carajas complex in northern Brazil.

The investment plan, named the New Carajas Programme, will focus on expanding iron ore production to 200 million tonnes (mt) and achieving a 32% increase in copper production to 350,000 tonnes by 2030.

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This increase in iron ore production will be driven by the company’s expansion efforts in the region, which include the development of the Serra Sul mine.

Vale, one of the world’s largest iron ore producers, revealed these details at an event attended by Brazil’s President Luiz Inacio Lula da Silva.

This initiative is part of Vale’s broader strategy to enhance its output capabilities and aligns with its strategic planning in the Carajas region.

The Carajas complex, situated in Brazil’s Para state, is a key production hub for the steel-making ingredient.

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This programme is expected to significantly contribute to Para’s economy, generating around $80bn–100bn annually and potentially increasing the state’s exports by $15bn reais.

Last year, Vale produced 177.5mt of iron ore in Carajas, accounting for more than half of its total output. The company expects iron ore production in Carajas to reach 200 million tonnes per annum by 2030.

Vale CEO Gustavo Pimenta said: “Carajás is a successful example of a public-private partnership focused on protecting the forest where we operate. Using dry mining processes and innovative technologies, we produce around 60% of the ore Brazil exports.

“This brings benefits to our country, positioning us as a global leader in supplying critical minerals and strengthening our role in combatting climate change. For Vale, it expands a business front that generates value and leverages strategic market opportunities in a low-carbon economy.”

Vale is also intensifying its focus on energy transition and decarbonisation and investing in circular solutions such as the Gelado Project in Carajas, which has an annual production capacity of 6mt from tailings reuse.

The company plans for 10% of its iron ore production to come from circularity-based products by 2030, with the Gelado Project playing a pivotal role in achieving this goal.