Vale’s Rare Earth Discovery in Brazil

The Street reported that Vale (NYSE:VALE) has discovered rare earths at its Brazil-based Salobo mine.

As quoted in the market news:

Rare earth mineral deposits are difficult to find in quantities large enough to make it economically viable to mine. Vale’s discovery in the Salobo region where the company is already developing its copper mining operations with an investment of $2.3 billion will allow these minerals to be mined as a by-product of the copper mining operations.

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