Vale Increases Salobo Copper Mine Capacity to 35mn t/yr

Vale

Brazil’s largest copper operation targets further growth with support from Wheaton Precious Metals

Vale has raised production capacity at its Salobo 3 copper mine in Brazil to 35 million metric tonnes per year following a 90-day trial. This marks a 3 million t/yr increase over 2023 levels and positions the operation to soon reach its full target capacity of 36 million t/yr.

New milestone at Salobo 3

The capacity upgrade is a significant step for Vale’s flagship copper project. Salobo is Brazil’s largest copper mine and a cornerstone of the company’s non-iron ore operations. During the pilot phase, the mine successfully sustained 35mn t/yr throughput, confirming its upgraded capability.

The project is backed by a streaming agreement with Canadian firm Wheaton Precious Metals International. Under this agreement, Wheaton will pay Vale $144 million following the achievement of this operational milestone.

Copper output continues to grow

In 2024, Vale reported copper production of 348,000 tonnes — a 6% year-on-year increase. The company continues to invest in its copper portfolio amid strong demand from electric vehicle, renewable energy, and construction sectors.

The increased capacity at Salobo 3 will enhance Vale’s global copper competitiveness while reinforcing Brazil’s role as a key supplier in the global copper market.