AI assistant
Vale S.A. — Regulatory Filings 2012
Nov 7, 2012
30050_iss_2012-11-07_6c35c7e3-9d91-4aa2-ae4b-6581536552c0.pdf
Regulatory Filings
Open in viewerOpens in your device viewer
VALE
Press Release
Vale obtains operation license for Salobo
Rio de Janeiro, November 6, 2012 – Vale S.A. (Vale) informs that it has obtained the operation license (LO) for the copper project Salobo, located in the Pará state, in Brazil, from the Instituto Brasileiro do Meio Ambiente e dos Recursos Naturais Renováveis (IBAMA). Salobo is the second greenfield project developed by Vale in Brazil and has nominal capacity of 100,000 tons of copper in concentrate.
Salobo initiated its ramp-up with the two lines running since June and it involves an integrated operation of open pit mining, beneficiation, transportation and loading. Output will be transported by road from the mine to Vale's existing rail terminal in Parauapebas, from where it is carried through the Carajás railroad to the Ponta da Madeira maritime terminal.
Investments in Salobo total $ 2.507 billion. Simultaneously, Vale invests in its expansion - Salobo II - that will come on-stream in the first half of 2014 with expected capex of $ 1.707 billion, increasing production capacity to 200,000 tons per year of copper in concentrate. Salobo encompasses 1.112 billion tons of proven and probable reserves, with an average grade of 0.69% of copper and 0.43 grams of gold per ton.
For further information, please contact: +55-21-3814-4540 Roberto Castello Branco: [email protected] Viktor Moszkowicz: [email protected] Carla Albano Miller: [email protected] Andrea Gutman: [email protected] Christian Perlingiere: [email protected] Marcio Loures Penna: [email protected] Rafael Rondinelli: [email protected] Samantha Pons: [email protected]
This press release may include statements that present Vale's expectations about future events or results. All statements, when based upon expectations about the future and not on historical facts, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM), the French Autorité des Marchés Financiers (AMF), and The Stock Exchange of Hong Kong Limited, and in particular the factors discussed under "Forward-Looking Statements" and "Risk Factors" in Vale's annual report on Form 20-F.