Vale's new boss pledges to grow copper output after falling behind rivals

Brazilian miner Vale aims to boost its copper production, the company's new CEO said on Wednesday, conceding it has lost ground to its competitors in output of the key industrial metal.

Vale is a top global iron ore producer, while also operating base metal projects including copper and nickel.

"We have fallen behind on copper," CEO Gustavo Pimenta said in his first public remarks since starting his new role on Tuesday. He was previously the miner's chief financial officer.