The proposed plans are in response to the declining prices of the commodity five-year lows.
Vale iron ore head Peter Poppinga was quoted by Reuters as saying: "There’s always a doubt on Corumba which is our small system in the west of the country.
"we would prefer to wait a bit more to see where the price is going."
Poppinga added that the company is generating profits at its other existing mines in south and southeastern regions of the Minas Gerais.
The Corumba operation produces two million ton of iron ore each year.
