Vale to Invest $14 Billion in New Carajás Project

Vale will launch the New Carajás Project at an event on Friday, the 14th, announcing an investment of R$70 billion ($14 billion) to expand iron and copper mining in Carajás, Parauapebas, Pará. The investment, planned between 2025 and 2030, aligns with the company’s strategy to develop mineral resources critical for decarbonization and the global energy transition.

The project will enhance Vale’s iron ore production capacity while accelerating copper output growth, in line with previously disclosed market targets. Additionally, the initiative includes investments in technology, health and safety, equipment maintenance, operations, and sustainability.

President Luiz Inácio Lula da Silva is expected to attend the event, along with Civil House Minister Rui Costa and Mines and Energy Minister Alexandre Silveira.

For copper, Vale forecasts production of 340,000–370,000 tons in 2025, increasing to 420,000–500,000 tons in 2030 and reaching approximately 700,000 tons by 2035.