This is the company's second attempt to start developing this area. In 2009, Vale hoped to invest over $700 million in the project and build a mine with a capacity of 24 million tons per year. At the same time, it was envisioned to build a dam to regulate waste dumping. After the disastrous breakthroughs of such dams in 2015 and 2019, it was decided that the project should be radically redesigned and redesigned.
Vale explained that its current version does not contain any dams and will minimize the impact on the environment. The production capacity of the enterprise was reduced to 14 million tons per year and the operating period was determined to be 29 years.
Vale plans to obtain an environmental permit in 2023 and a building permit in 2024. The project is scheduled to be completed in 2027 and start iron ore production in 2028.
This year, the company aims to purchase 315-335 million tons of iron ore raw materials. It predicts 330-350 million tons of production in 2022.
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