Project Overview
The Salobo mine, located in the Pará state of Brazil, is the largest copper deposit ever discovered in
Brazil. The low-cost copper-gold mine began operating in 2012 with a design throughput capacity of 12
million tonnes per annum (“Mtpa”), and is currently ramping up to an expanded throughput capacity of 36
Mtpa. Salobo is an integrated operation of open pit mining, mineral processing beneficiation, concentrate
loading and transportation. The copper concentrate is transported by road from the mine to Vale’s existing
rail terminal in Parauapebas, from where it is carried by the Carajás railroad to the Ponta da Madeira
maritime terminal located in Sao Luis.
Salobo is classified as an iron-oxide-copper-gold (“IOCG”) deposit. Global examples include Olympic Dam in
Australia, Candelaria–Punta del Cobre in Chile and Sossego in Brazil. Mineralization at the Salobo deposit
is hosted by upper-greenschist to lower-amphibolite, metamorphosed rocks of the Igarapé Salobo Group. The
Igarapé Salobo Group consists of iron-rich sediments, quartzites and gneisses, metamorphosed to amphibolite
facies and is associated with copper–gold and copper–gold–silver mineralization. The major host units are
biotite and magnetite schists.
Stream Details
| Date of Contract |
28-Feb-13 |
| Term |
Life of Mine |
| Stream |
75% of gold |
| Upfront Consideration |
$3,573M |
| Per Unit Production Payment |
$429 (annual 1% inflation adjustment)
|
| Cost Quartile |
First |
For more information on the Salobo mine, please visit: www.vale.com (opens in new
tab)