Vale Launches the "New Carajás" Plan

On February 14, 2025, Brazil's Vale officially launched the "Novo Carajás" plan, announcing an investment of 70 billion reais (approximately 88.893 billion yuan) over the next five years, 2025-2030, for iron ore capacity expansion and copper mine development. The core content of the plan related to iron ore includes increasing the annual iron ore capacity in the Carajás region to 200 million mt by 2030, primarily through the expansion of the S11D mining area, which is expected to add 20 million mt of annual capacity and replace the capacity of depleted mines. Previously, in 2024, Vale's global iron ore production had recovered to 328 million mt, approaching the capacity level of the global leader, Rio Tinto.