Vale Gets Final OK For $19B Serra Sul Mine Project

Law360, Los Angeles (April 9, 2013, 6:13 PM EDT) -- Vale SA has received the final environmental license required for its massive $19.4 billion iron ore project, positioning the Brazilian mining company to dramatically increase its output and cement its spot as the world's top iron ore producer, Vale said in a Monday securities filing.

The Serra Sul project, part of the sprawling Carajas mine located in Brazil's Para state, was given final approval by the Special Secretariat for the Environment, which issued the license to Vale. The company previously said its undertaking would go operational...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.