Vale has revised its investment targets for 2025

At the same time, the company has obtained a license to expand the Serra Sul project

Brazilian mining company Vale has revised its investment targets for 2025, lowering them from the previous $5.9 billion to $5.4-5.7 billion, according to Valor International.

Vale CEO Gustavo Pimenta said after an event dedicated to COP30 in São Paulo that the reduction in investment does not mean that the company will abandon its strategic projects.

“The decrease is due to more efficient capital allocation, prioritizing projects with higher returns and lower capital intensity,” he explained.

Pimenta noted that the revised forecast reflects years of work to optimize investments and is not a change in strategy. Vale’s growth program remains relevant, especially in the copper sector. In addition, the company is implementing new technologies to improve efficiency.

Vale will announce its investment targets for next year at Vale Day, an event in London on December 2.

At the same time, Vale announced that it had received a license to expand the Serra Sul deposit, which will increase the company’s ore production capacity by 20 million tons per year.

It is noted that the operating license, issued by the Brazilian Institute of the Environment and Renewable Natural Resources, is an important milestone for the project and is on schedule. The commissioning of the facilities is expected in the second half of 2026.

Serra Sul, Vargem Grande, and Capanema are part of Vale’s strategic initiatives aimed at sustainably increasing production and improving the flexibility of its iron ore product portfolio.

As a reminder, Vale recently resumed operations at its Capanema mine in the state of Minas Gerais, which had been idle for 22 years. Approximately R$5.2 billion (approximately $955 million) was invested in the restoration, including facility upgrades and integration with other assets in the region. The restart of Capanema will add approximately 15 million tons per year to the company’s iron ore production.