Vale receives operating license for key iron ore project

Brazilian miner Vale said on Thursday it has received an operating license for activities related to the so-called Serra Sul +20 Mtpy project, which it expects to “significantly increase” its iron ore production capacity once completed.

In a securities filing, the company said that the project is in line with its planned schedule, adding that commissioning is expected to begin in the second half of 2026.

The operating license was issued by Brazilian environmental agency Ibama. The project involves expanding the annual capacity of the S11D mine-plant by 20 million metric tons, and has investments estimated at $2.8 billion, Vale said.

(By Fernando Cardoso; Editing by Gabriel Araujo)