281 designed to ensure technical feasibility. Regulatory licensing also constitutes a critical dimension, as all initiatives must comply with Brazilian environmental legislation. Finally, projects undergo rigorous economic evaluation, encompassing financial return, implementation costs, and the full set of variables required for Net Present Value (NPV) calculations, thereby ensuring alignment between technical viability, regulatory compliance, and economic sustainability. Through these levers, the program creates value by optimizing the company’s core operations, unlocking new revenue streams via products viable for alternative markets, and reinforcing its sustainability commitments through concrete solutions aimed at mitigating negative impacts. 3. RESULTS AND DISCUSSION In its first year, 2024, the program delivered 12.7 Mt of iron ore from circular sources, and 1.4 Mt of sustainable sand, reducing CO₂ emissions by 23 kt (equivalent to removing 14k cars of circulation in one year) and saving energy equivalent to powering 40k Brazilian homes for a year. By reducing the reliance on tailings dams and waste rock stockpiles through the reutilization of materials, the program mitigates the exposure of employees, contractors, and surrounding communities to risks traditionally associated with these structures. At the same time, investments in research and development projects foster the creation of co-products that generate advantages not only for Vale but also for society more broadly, reinforcing the company’s role as a driver of innovation in sustainable mining practices. Furthermore, the more efficient utilization of mineral resources maximizes the exploitation of existing reserves, extending the operational life of mines and producing longterm sustainability benefits for society. Taken together, these results illustrate how circularity initiatives can simultaneously stimulate innovation, strengthen investor confidence, and promote responsible resource management, thereby consolidating the program’s contribution to sustainable development in the mining sector. The following section presents case studies that exemplify the operational levers outlined in the Circular Mining Program. 3.1. Reduction in Waste Rock Generation: Dolomitic Itabirite The incorporation of dolomitic itabirite in the iron production represents a significant advancement within the strategy of reducing waste rock generation at Vale’s Itabira operations. Situated in the state of Minas Gerais, the Itabira mining complex lies about 100 kilometers from Belo Horizonte, the state capital, positioning it within one of Brazil’s most historically significant iron ore regions and first Vale’s iron operation (Figure 2).
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