Comprehensive media reported on December 13 that Vale of Brazil will spend about $10.1 billion to develop a SerraSul iron mine in the Carajás region of northern Brazil.
The mine will be the world's largest single iron mine, also known as Vale's second Carajás mine, with an annual capacity of 90 million tons. After the mine is put into production in early 2012, Brazil's Vale annual capacity will increase by 90 million tons. . Vale's existing Caracas mine has an annual capacity of 100 million tons, and the current expansion is expected to be completed in the second half of 2009, when capacity will increase to 130 million tons.
By 2012, two mines in Caracas will bring Vale's annual production capacity to 220 million tons in the region, and the development of the SerraSul mine is part of Vale's capacity expansion to 450 million tons.
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