Vale to Invest in Brazilian Iron-Ore Mine

1 August 2010 (Last Updated August 1st, 2010 18:30)

Vale plans to invest $11.3bn in an iron-ore mine in northern Brazil. The mine will have a capacity to produce 90 million metric tonnes of ore annually, according to local news source IG. The mine is scheduled to begin operating in 2013 and will be located in the same region as

Vale plans to invest $11.3bn in an iron-ore mine in northern Brazil.

The mine will have a capacity to produce 90 million metric tonnes of ore annually, according to local news source IG.

The mine is scheduled to begin operating in 2013 and will be located in the same region as the Carajas mine, the largest iron-ore mine in the world.