VALE - Vale To Boost Copper Nickel Production With $3.3B Investment | Benzinga
Vale SA (NYSE:VALE) plans to increase its copper production to 500,000 tons by 2028 as part of a $3.3-billion capital expenditure plan.
That’s up from 326,600 tons in 2023, largely through upgrades to its Salobo and Sossego mines in Brazil.
Copper prices have recently surged to new highs, propelled by speculation about future supply shortages.
Vale, according to Bloomberg, also plans to enhance its copper and nickel production capabilities in Canada. This move aligns with the company’s broader strategy to capitalize on copper demand and transition to green energy.
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