Vale mining expansion and economic initiatives in Brazil

Vale is advancing several strategic initiatives in Brazil focused on expanding production capacity and driving national economic growth.

In August 2026, the company’s subsidiary, Vale Base Metals, announced it is accelerating the Coarse Particle Flotation project at the Salobo Copper Complex in Pará. The project is now slated to begin operations in the first half of 2028, roughly one year ahead of schedule. This expansion aims to increase annual ore processing capacity by 6 million tonnes and boost copper production by approximately 30,000 tonnes annually. The initiative has a reduced estimated capital expenditure of approximately US$ 215 million, with US$ 40 million being provided by Wheaton Precious Metals.

Concurrently, Vale has launched a strategic plan titled ‘Unlocking the Potential of Mining in Brazil’ in collaboration with Accenture. The plan seeks to create 2.3 million new mining jobs by 2035 and increase tax revenues to R$ 1.3 trillion between 2026 and 2035. The proposal, which includes 15 strategic initiatives regarding infrastructure, licensing, and regulation, is intended for delivery to 2026 presidential election candidates.

CEO Gustavo Pimenta emphasized that the proposal aims to help Brazil capitalize on global opportunities. The report suggests that if the outlined measures are adopted, Brazil's annual mineral production could rise from approximately R$300 billion to R$535 billion by 2035. This expansion could increase total sector employment—including direct, indirect, and induced jobs—from 3 million to 5.3 million. The plan advocates for a state-led agenda to identify transformational projects and improve competitiveness, which the company notes has declined over the last decade due to infrastructure and licensing challenges.