Vale accelerates Salobo copper expansion, reduces capital costs and advances first production
2026-08-14 11:42:34 [Print]
Vale's Base Metals unit today announced a significant acceleration of its expansion at the Salobo mine, Brazil's largest copper operation, with first production now targeted for the first half of 2028-approximately one year ahead of the original schedule-while capital costs have been reduced.
The coarse particle flotation (CPF) expansion is expected to increase Salobo's total annual throughput by 6 million tonnes to 42 million tonnes, with approximately 15,000 ounces of gold byproduct anticipated annually. The Company has revised the project's estimated capital cost downward to approximately $215 million, compared with the earlier range of $225–$275 million. Under an amended streaming agreement, Wheaton Precious Metals will contribute $40 million toward the project.
"This acceleration reflects our disciplined approach to capital allocation and our commitment to unlocking value from our existing asset base," said [Name], [Title] at Vale Base Metals. "The CPF technology not only enhances throughput and recoveries but also improves our environmental footprint through reduced energy and water consumption."
The investment represents another milestone in Vale's broader strategy to nearly double annual copper production to approximately 700,000 tonnes by 2035, driven by a pipeline of brownfield expansions across Brazil's Carajás region. Salobo, which recorded record output in both 2024 and 2025, is the second project in the pipeline to be accelerated in recent weeks. Earlier, Vale brought forward first production at the nearby Bacaba project by approximately six months, now scheduled for the third quarter of 2027.
The CPF technology is designed to remove waste rock earlier in the processing stream through an additional flotation circuit, reducing grinding requirements while simultaneously increasing metallurgical recoveries and overall plant throughput. Compared with conventional processing methods, the process is also expected to deliver lower average energy and water consumption per tonne processed.
Vale received the construction licence for the project from Brazil's environmental regulator ahead of schedule, enabling construction to commence earlier than previously planned. The Company will provide further updates as the project advances through its construction and commissioning phases.
The coarse particle flotation (CPF) expansion is expected to increase Salobo's total annual throughput by 6 million tonnes to 42 million tonnes, with approximately 15,000 ounces of gold byproduct anticipated annually. The Company has revised the project's estimated capital cost downward to approximately $215 million, compared with the earlier range of $225–$275 million. Under an amended streaming agreement, Wheaton Precious Metals will contribute $40 million toward the project.
"This acceleration reflects our disciplined approach to capital allocation and our commitment to unlocking value from our existing asset base," said [Name], [Title] at Vale Base Metals. "The CPF technology not only enhances throughput and recoveries but also improves our environmental footprint through reduced energy and water consumption."
The investment represents another milestone in Vale's broader strategy to nearly double annual copper production to approximately 700,000 tonnes by 2035, driven by a pipeline of brownfield expansions across Brazil's Carajás region. Salobo, which recorded record output in both 2024 and 2025, is the second project in the pipeline to be accelerated in recent weeks. Earlier, Vale brought forward first production at the nearby Bacaba project by approximately six months, now scheduled for the third quarter of 2027.
The CPF technology is designed to remove waste rock earlier in the processing stream through an additional flotation circuit, reducing grinding requirements while simultaneously increasing metallurgical recoveries and overall plant throughput. Compared with conventional processing methods, the process is also expected to deliver lower average energy and water consumption per tonne processed.
Vale received the construction licence for the project from Brazil's environmental regulator ahead of schedule, enabling construction to commence earlier than previously planned. The Company will provide further updates as the project advances through its construction and commissioning phases.
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