Samarco Mineração SA, a joint venture between Vale and BHP Group, has announced plans to invest more than US$1 billion to return to full production at its iron ore operations by January 2028.

The company was forced to halt production in November 2015 following a tailings dam disaster. Since then, Samarco has spent US$260 million to restart the facility in Mariana, Minas Gerais.

As of Monday, the facility has achieved 60% of its operating capacity. A second concentration facility and a new tailings filtration plant are resuming operations.

Samarco aims to reach 15 million tons of iron ore pellet production by 2025, returning it to the top three global exporters of the steelmaking component.