Brazilian miner and iron ore producer Vale said this week it will invest a combined BRL 1.27 billion ($308.6 million) by 2023 as part of an agreement with regulators and prosecutors.
Vale said the investment meets the recommendations of São Paulo and Espírito Santo state regulators, and both federal and state prosecutors, under a new conduct adjustment commitment term (TAC) signed by the miner.
Vale said the TAC agreement aims to reduce emissions at Vale’s Tubarão complex in Espírito Santo state.
As part of Vale’s $308.6 million investments, the miner has already fenced all loading and unloading pier areas of its Tubarão complex as well as its Praia Mole terminal, from which the miner gets its coal supplies.
The company has also enclosed its raw materials area at its mill No. 8 at its Tubarão site, also as part of the planned investments, Vale said.
Vale said it expects to reduce emissions by 93 percent by 2023, when compared to 2010 emission levels.