Vale expands Brazil's largest copper mine

Vale Corporation has successfully concluded the initial phase of the Salobo III project, marking a substantial expansion in the capacity of its Para copper mine. The Salobo deposit, recognized as Brazil's largest, boasts an impressive 1.15 billion tons of ore, featuring an average grade of 0.6% copper and an additional 32 grams of gold per ton.

Vale Corporation embarked on the ambitious development journey in 2012, witnessing a notable increase in production capacity to 24 million tons of ore annually by 2014. Now, with the completion of the first phase of the expansion initiative, the company is set to further elevate its output, targeting a production capacity of 36 million tons by 2024. The comprehensive expansion project comes with a price tag of approximately $1.1 billion.

Anticipated as a significant boost to the mining sector, the expanded mine is projected to yield over 200,000 tons of copper in concentrate each year upon full completion. The economic implications of this development are poised to make a substantial impact, not only on Vale Corporation but also on Brazil's standing in the global mining landscape.