Brazilian miner Vale, which has developed vast iron ore reserves currently estimated at 330 million to 345 million metric tons in the north of Brazil, could add an additional 50 million metric tons (mt) of iron ore to its annual productive capacity within several years, it was revealed recently during in an interview with its CEO Gustavo Pimenta.
This additional output could come from developing the Serra Sul “C” deposit, known as S11C, in the northern Brazilian state of Pará, though the new development would require changes to current legislation allowing access to some geological formations.
Vale already operates the S11D deposit, which produces 86 million mt annually. Combined, S11D and S11C contain estimated reserves of 3.61 billion mt, with an average iron content of 65.3 percent.
Brazilian law currently regulates mining activities near natural caves, directly affecting mining companies' operations. Federal decrees classify caves according to their environmental relevance. These rules were recently updated but are facing legal challenges and even suspensions by Brazil's Supreme Court.
Pimenta also said authorities plan to introduce further changes to the legislation.
