Brazil Gives Go-Ahead To Vale's $19B Serra Sul Mine Project

Law360, New York (June 27, 2012, 6:20 PM EDT) -- Brazilian mining company Vale SA received a preliminary environmental license for its massive $19.4 billion iron ore project, paving the way for an effort that would allow the company to dramatically increase its output to better compete with rivals, it said Wednesday.

The Serra Sul project, part of the sprawling Carajas mine located in Brazil's Para state, was given early approval by the Brazilian Institute of Environment and Renewable Natural Resources, or IBAMA, after Vale agreed to implement waste- and emissions-slashing components to its plans....
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