VALE - Riding The Vale Rollercoaster: A Bullish Play For Bold Investors
2024-06-22 22:59:23 ET
Summary
- Vale S.A. plans to invest $3.3 billion in Brazil and Canada to increase copper and nickel production.
- The company aims to expand copper production capacity to 500,000 tons by 2028, focusing on Salobo and Sossego mines in Brazil.
- Vale's shift towards higher-cost commodities like copper and nickel is significant amid potential supply shortages and market trends.
Introduction
Vale S.A. ( VALE ) is making headlines again.
On June 20, Bloomberg reported the miner is looking to spend $3.3 billion on improvements at its operations in Brazil and Canada to boost copper and nickel production over the next four years.
Riding The Vale Rollercoaster: A Bullish Play For Bold InvestorsThe Brazilian mining giant sees the potential to expand production capacity to about 500,000 tons of copper by 2028 mainly through improvements to its Salobo and Sossego mines in Brazil, Vale said in its latest estimates for its base metals unit. Vale produced 321,000 tons of the wiring metal last year. Nickel also gets a capacity lift . - Bloomberg (emphasis added)