Vale sees potential copper output in 2026 between 387,000 tonnes and 424,000 tonnes.

Minas Gerais is the largest distributed generation market in Brazil with 2.5GWp already installed.

Trucks linked to artisan and illegal mining operations have been crowding vehicles from mines like Las Bambas, Constancia and Antapaccay.

The project is given an after-tax net present value of $778 million and an after-tax internal rate of return of 20.6%.

Chile's financial regulator said the Codelco-SQM joint venture does not need to face a vote by SQM shareholders.

Tianqi, which holds about 22% of SQM shares, has repeatedly called for a vote by all shareholders.

Last week, Vale and BHP presented Brazilian authorities with a new offer to settle reparations.

The company also plans to discuss copper and lithium with the Saudi Arabia mining minister in Chile next month.