Lumina Gold secures improved Ecuador terms with Cangrejos mining permit, analyst says
The contract includes $25 million in advance royalty payments to the government split into four stages.
Vale SA said on Friday it has begun the process of increasing iron ore production at the Timbopea site, part of its Mariana complex in Minas Gerais, Brazil.
In a securities filing, Vale said iron ore production capacity at the site should return to 12 million tonnes a year once the commissioning period is over, which it says should last two months.
(By Jamie McGeever; Editing by Christian Plumb)
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