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. By the beginning of 2018 Vale was studying the possibility to carry out the Salobo III expansion. This includes another expansion of 12Mt ore/a.