The Brazilian mining company Vale has increased its investment plan for 2014, allocating 9 billion dollars (6,467.28 million euros) for mining projects in Argentina, Brazil, Peru and other countries in Africa, the Middle East and Asia.  The company, which is the world’s largest exporter of iron ore, plans to diversify its activities by extracting new minerals.

Source: América Económica

14/03/2011. The Brazilian company wants to establish itself in the extraction of minerals other than iron ore, such as potassium, which it already produces.  Vale intends to reach 2,400 million tons of this mineral, for which it will allocate 1.2 billion dollars (862.30 million euros) of its investment to Argentinean potassium mines.

Although to a lesser extent, the Brazilian mining company will also invest in Peru.  The company intends to expand phosphate production in Peruvian mines, which is why it is contributing 100 million dollars (71.86 million euros) to mining in the country.

In Brazil, the company will invest in the expansion of a deep-water port on the north coast.  However, the majority of the company’s foreign investment will go to Africa, where it hopes to increase coal production in Mozambique and copper production in Zambia.

Vale began its internationalization process in 2006 when it decided to commit to Canadian nickel and acquired the company Inco.  This move allowed the company to position itself as the world’s second largest nickel producer.  Now it seeks to establish itself as a leading producer of other minerals.