Via Reuters:
Anglo American PLC said on Tuesday it expects to receive long-awaited licenses on Friday which will pave the way for the mining company to boost its Brazilian iron ore production capacity by about 56 percent.
Anglo American plans to invest 1 billion reais ($308.94 million) to expand its iron ore extraction capacity at Minas-Rio mine in Minas Gerais state to 26.5 million tons per year from 17 million.
The pre-installation and installation licenses are up for consideration Friday by a council at Semad, Minas Gerais’ state environmental regulator, part of a process begun in 2015.
If the licenses are granted, the company will be able to start construction to extend the mining system, including upgrading a tailings dam and opening a pit.
“We believe in the robustness of the process, the support of communities and the endorsement of all relevant authorities,” the company said.
Minas RIO produces high grade pellets so this goes directly to benchmark prices.
