Vale operates a 24Mt/a ore conventional open pit mine and concentrator. In June 2012 Salobo started Phase I (Salobo I) with a mill capacity of 12Mt/a ore. The initial capex of this was US$ 2 507 million. In June 2014 Vale brought into production the Salobo II project which doubled the nameplate milling capacity from 12Mt/a to 24Mt/a. Both Salobo I & II operate just as one open pit.