Vale (NYSE:VALE) has announced a significant reduction in the emergency level of its Sul Superior dam, from level 3 to level 2, following geological-geotechnical investigations and safety improvements.
The de-characterization of the dam will continue to improve its stability until its complete elimination.
CEO Eduardo Bartolomeo stated, "The removal of the critical safety level of the Sul Superior dam is another important step forward in our commitments to achieving zero level 3 tailings dams by 2025 and eliminating all upstream dams in Brazil."
The dam's de-characterization works will continue through the use of remotely operated equipment, with an expected completion date in 2029.
Following the announcement, Vale share price was up 2.01%.