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Vale secures operating license for S11D iron ore project in Brazil

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Vale secures operating license for S11D iron ore project in Brazil

Vale SA was granted the operating license for the S11D mine and plant operations by Brazil's federal environmental agency IBAMA.

S11D's start-up is expected by the end of the year, with the first commercial shipment expected in January 2017, the company said in a Dec. 9 filing.

Additionally, Vale noted that the S11D mine and plant achieved physical progress of 96% as of Oct. 30, with hot commissioning progressing well.

The granting of the S11D mine and plant license is an important milestone to consolidate the company's position as the lowest C1 cash cost producer in the industry, Vale added.