Vale to become a top copper producer?

Brazilian iron ore giant Vale has been a midsize copper miner over the past years, but it seems the company plans to leap towards the metal's market: the miner said this week it will start later this year production at its Tres Valles mine in Chile, and that the Salobo project in northern Brazil will finally begin output in 2011, after almost two decades of research.

But it won't be enough for Vale as the company already plans to double production at Salobo by 2013 and start up Konkola North mine in Zambia, a joint venture with African Rainbow Minerals Ltd. (ARM), in the same year, producing 650,000 tonnes of copper a year at the site.

So, would it be enough for Vale? Apparently not, as the Brazilian miner has other copper projects in the cards. The Carajás Mineral Province in the Amazon region will receive other four projects (Salobo III, Alemão, Cristalino and Polo) while exploration continues in Africa's copper belt in a venture struck last year with ARM. And a total US$ 3.34 billion will be spent on existing copper projects by 2013.