Vale to Increase Iron Ore Production in Northern Brazil

CORDOBA, ARGENTINA--October 22, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Brazilian miner Vale (NYSE:RIO) (Rio de Janeiro), the world's largest iron ore producer, is awaiting environmental permits to develop the Serra Leste iron ore project, located near the city of Curionopolis in Brazil's Para state. With an investment of about $150 million, the company will construct an open-pit mine to produce 2 million tons per year of iron ore.