Vale S.A. (Vale), a Brazilian multinational corporation engaged in metals and mining, announced that its board of directors has approved a US$428 million investment of reprocessing project to supply high-grade iron ore fines to the pelletizing plant at São Luís which was relaunched in May as the demand for iron ore pellet from mills was more than supply.
Vale stated that the project was very economical. It will have an annual iron ore production capacity of 9.7 million tons, without transport distances and trucks, so it could reduce the operating costs and the mining rate of the Carajás Mine.
