Vale to Resume Nickel and Copper Operations Following Agreement

Brazilian mining giant Vale has secured agreements with Brazilian authorities to restart operations at its copper Sossego and nickel Onca Puma mines.

Vale announced today that it has come to terms with the General Attorney's office and the state environment secretariat of northern Para state. These agreements will allow the company to restore the operating licenses for both mines.

The licenses are anticipated to be reinstated within 48 hours. Following this, Vale will initiate the process to resume operations "as soon as possible," according to the company.

Earlier this year, Para state's department of environment and sustainability suspended the operating permits for Sossego and Onca Puma in February, citing Vale's non-compliance with environmental standards. The company regained its operational rights later that month, only to lose them again in April.

In 2023, Sossego's copper production rose to 66,800 tonnes, marking a 55% increase from 2022. Conversely, nickel production at Vale's Brazilian operations dropped by 28% to 17,000 tonnes, partly due to maintenance activities at Onca Puma.