Vale will invest $3.5 billion in a copper mine in Brazil

K-LinePoet · 2026-03-09T19:54:27+00:00

Vale will invest $3.5 billion between 2026 and 2030 to develop copper resources in the Carajas region of Brazil, with plans to expand capacity by 80,000 tons per year in 2029. This investment is expected to nearly double copper production by 2035.

K-LinePoet

2026-03-09 19:54:27

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São Paulo, February 24 (Agência) — Mining giant Vale will invest $3.5 billion from 2026 to 2030 to further develop its copper resources in the Carajás region of northern Brazil.

Vale will invest $300 million in 2026, $400 million in 2027, $800 million in 2028, $900 million in 2029, and $1.1 billion in 2030.

Vale’s Carajás mineral province includes its flagship mine Salobo, the smaller Sossego mine, and the Bacaba project. The Bacaba project is a future copper mine currently undergoing environmental licensing but will also be considered in this investment.

In 2025, Carajás’s copper production reached 293,100 tons, accounting for 77% of the mine’s global copper output.

This investment was disclosed in a securities filing and aligns with estimates from the Brazilian Mining Institute. The institute noted that during this period, copper will receive the most investment among all key minerals, totaling $8.6 billion.

Vale plans to nearly double its copper production by 2035, expanding capacity by 80,000 tons per year by 2029.

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