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Vale said it will invest BRL 67bn ($12.4bn) in Minas Gerais by 2030, focusing mainly on expanding dry tailings solutions to reduce dam use after past deadly collapses. The company reopened its Capanema iron ore mine in Ouro Preto after 22 years, which now operates without water use or tailings dams, adding 15mn tons of annual output. Investments will also modernize Vale’s five mining complexes through improved geotechnical management, connectivity, and fleet renewal. The move supports Vale’s target of producing 340–360mn tons of iron ore next year and reflects a push toward safer, more sustainable mining.
Vale’s bonds traded with a positive bias with its 6.875% 2036s up at 110.66, yielding 5.58%.
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