Vale unveils $3.3 billion plan to boost copper and nickel output
The mining giant sees the potential to expand production capacity to about 500,000 tons of copper by 2028 mainly through improvements to its Salobo and Sossego mines in Brazil.
Miners like Zijin Mining, China Minmetals and others are likely to examine closely a deal that creates the world’s top copper producer, Bloomberg says.
A five-year delay to decarbonization efforts could see global average temperatures rising to 3 degrees Celsius above pre-industrial levels, the firm says.