Vale plans to invest around $2.5 billion in iron ore dry processing during the next five years in a move that is estimated to switch 70% of output to this method, the Brazilian mining company said on Monday May 13.
Over the past 10 years, capital expenditures in Brazil aimed at reaching this goal have totaled $17.5 billion, Vale said. Roughly 60% of the miner's production is currently dry, using only natural moisture, it added.The company expects to invest $390 million solely in the Brazilian southeastern state of Minas Gerais for the implementation of dry stacking, the miner said.One dam at Vale's C??rrego do Feij??o mine ruptured on...