Brazil's Vale defines part of Carajas investment plan execution

SAO PAULO, June 27 (Reuters) - Brazil's Vale VALE3.SA, one of the world's largest iron ore producers, has defined how to spend half of the planned 70 billion reais ($12.78 billion)in investments under its "New Carajas Program," according to a company director, who discussed details of the five-year plan with journalists this week.

The executive said some of the projects are in the execution phase.

He added that Vale is now seeking new "targets" under the program to expand mines and increase its iron ore output to 200 million tons annually at the Carajas mining site, in addition to increasing local copper extraction by 32%.

($1 = 5.4784 reais)