Vale to Expand Operations at Carajas with $2.8 Billion Loan

Mining.com reported that top iron ore producer Vale SA (NYSE:VALE) will expand operations at its mine in Carajas, Brazil. The mine is currently the world’s largest iron-ore complex.

As quoted in the market news:

The loan, said the bank according to local newspaper Valor Economico (in Portuguese), will help the Rio de Janeiro-based giant miner improve its railway network and build a new mining and processing unit in Para state, with annual capacity of 90 million metric tons.

Click here to read the full Mining.com article.