According to media reports from Bloomberg and others, Brazilian mining company Vale recently revealed plans to invest about $3.3 billion to strengthen its mining operations in Brazil and Canada, aiming to increase the production capacity of copper and nickel before 2028.

In the first phase of execution from this year to 2026, Vale will invest $650 million for exploration and project development to ensure operational stability and achieve a certain production potential. It will also invest $150 million in its Sudbury mines in Canada and Salobo in Brazil.

At the Sudbury facility in Canada, Vale aims to fill the plant with metals it purchases itself and achieve higher profits. The Sudbury operation involves five mines, a plant, a smelter, and a refining plant. It is said to be one of the world's largest integrated mining complexes, producing nickel, copper, cobalt, platinum group metals, gold, and silver.

Vale also plans to improve the efficiency of its Salobo mine in Brazil to reduce costs and increase profit margins. In addition, the company will accelerate the expansion of the Salobo 3 phase project.

From 2024 to 2026, Vale expects to create an additional value of about $2 billion.

Vale plans to expand its production capacity to nearly 400,000 tons of copper and 200,000 tons of nickel by 2026. By 2028, the company's copper production is expected to reach about 500,000 tons, while nickel production is expected to reach 250,000 tons.

Recently, after obtaining approval from the relevant authorities, the Brazilian mining company sold a 10% stake in Vale Base Metals (VBM) to a joint venture between Ma'aden and the Saudi Arabian Public Investment Fund, Manara Minerals, for $2.5 billion.