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Seeking Alpha reported that Vale’s (NYSE:VALE) attempt to start the largest copper mine in Brazil may lower copper prices.
Seeking Alpha reported that Vale’s (NYSE:VALE) attempt to start the largest copper mine in Brazil may lower copper prices.
As quoted in the market news:
Vale has one other major copper mine in Brazil at Sossego, and it has plans for another copper mine at Cristalino in the same area. The company’s board of directors has not decided whether to move forward with that project or not. It is likely that Vale will delay expansion plans at Salobo and new development if Chinese copper demand stays low.
