Vale to announce $12 billion investment in Brazil’s Carajas, Brazil government says

SAO PAULO (Reuters) – Brazilian miner Vale will announce on Friday a 70 billion reais ($12.2 billion) investment to expand its iron ore and copper mining operations in the Carajas complex in northern Brazil, the presidential palace said on Wednesday.

The announcement will be made at an event with Brazil’s President Luiz Inacio Lula da Silva, the presidential palace said.

($1 = 5.7587 reais)

(Reporting by Andre Romani; Editing by Chris Reese)