Name of the Project
Serra Sul 120 iron-ore project.

Location
In the municipality of Canaã dos Carajás, Brazil.

Project Owner/s
Vale.

Project Description
The Serra Sul 120 entails increasing the S11D mine-plant capacity by 20-million tonnes a year to 120-million tonnes a year on site.

The project includes the opening of new mining areas, the duplication of the long-distance belt conveyor, the implementation of new processing lines at the plant and the expansion of storage areas.

Vale will also invest in the mine plant, which, together with the logistics solution under development, will increase the Northern System's total capacity to 260-million tonnes a year.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
The project is estimated at $1.5-billion.

The duplication of the long-distance belt conveyor will require an investment of $385-million.

Planned Start/End Date
The project is expected to start operations in the first half of 2024.

Latest Developments
Vale is advancing on hiring contractors and has started the vegetation clearing of the previously licensed plant site areas.

The project is 3% complete.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Vale, email imprensa@vale.com.