09:09 AM EDT, 09/12/2025 (MT Newswires) -- Vale (VALE) said Friday it secured an operating license from Brazil's environmental agency IBAMA for its Serra Sul +20 Mtpy iron ore expansion project.

The company said the project is on schedule, with commissioning expected to begin in H2 2026.

Vale added that the plan will expand the S11D mine-plant's capacity by 20 million tons annually through new mining areas, a semi-mobile crusher, duplicated conveyor systems, and new processing lines.

The project is 77% physically and 57% financially complete, with an estimated total investment of $2.8 billion, according to the company.