Vale SA is fast-tracking the Coarse Particle Flotation (CPF) project at its Salobo Copper Complex in Brazil. The company now expects the start-up in the first half of 2028. This timeline moves the project completion ahead by approximately one year.
The project will increase the plant's annual ore processing capacity by 6 million tonnes. Total annual capacity will reach 42 million tonnes. The expansion will boost annual copper production by up to 30,000 tonnes. It will also add approximately 15,000 ounces of gold as a byproduct.
Vale revised the project's capital expenditure downward to approximately $215 million. This is a reduction from the initial estimate of $225 million to $275 million. A $40 million funding agreement with Wheaton Precious Metals supports the investment.
August 13, 2026, is the ex-dividend date for shareholders. This date applies to both a regular and a special dividend.