Vale to invest US$290 million in copper project in Pará after obtaining preliminary license
Vale said on Monday that it had obtained the preliminary license for the Bacaba copper project in Pará and that it will invest approximately US$290 million during the implementation phase.
In a statement to the market, the mining company said that the Bacaba project seeks to extend the useful life of the Sossego Mining Complex, contributing with an average annual production of approximately 50 thousand tons over eight years of operation.
Production is scheduled to begin in the first half of 2028, according to Vale.
The copper project is the first in a series that the company wants to develop in the region as part of its strategic objective of doubling its copper production capacity in the next decade.
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