GF88 is a high-grade iron ore product, produced by grinding Vale's flagship Carjas IOCJ 65% Fe fines.

The church has also blocked investments in the miner through an ethical exclusion process.

President Jair Bolsonaro has repeatedly criticized the size of territories occupied by indigenous groups.

Mining has been halted since September 2017 as the company failed to undergo a requested environmental impact on local indigenous communities affected by pollution caused by the operation.

Hochschild Mining previously explored the property.