Vale sets 5-year plan to invest $2.5bln in iron ore dry processing

Vale plans to invest around $2.5 billion in iron ore dry processing during the next five years in a move that is estimated to switch 70% of output to this method, the Brazilian mining company said on Monday May 13.

Over the past 10 years, capital expenditures in Brazil aimed at reaching this goal have totaled $17.5 billion, Vale said. Roughly 60% of the miner’s production is currently dry, using only natural moisture, it added. The company expects to invest $390 million solely in the Brazilian southeastern state of Minas Gerais for the implementation of dry stacking, the miner said. One dam at Vale’s Córrego do Feijão mine ruptured on...

Published

Renato Rostás

May 13, 2019

18:49 GMT

São Paulo