Vale Gets Brazil's Nod For $2.5B Copper Mine Expansion

Law360, New York (November 7, 2012, 2:39 PM EST) -- Brazil’s federal environmental regulators have signed off on Vale SA’s plans to expand its $2.5 billion copper project, giving the Brazilian mining giant an operational license for a new portion of its Salobo mine, Vale said late Tuesday.

The approval from the agency — known by its Portuguese acronym of IBAMA — paves the way for a major production boost that will eventually double annual production at the Salobo site to 200,000 tons of copper in concentrate, Vale said. The Salobo project, located in Brazil’s north-central...
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