IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Brazilian miner Vale expects to reach a deal in the coming days with northern Para state to resume activities at its Onca Puma nickel mine, the firm said in a statement on Thursday.
The mine had its operating license suspended earlier this year after Para’s environment department flagged irregularities in an annual environmental report.
Vale “hopes to conclude a deal in the coming days,” Vale told Reuters in a statement.
The Onca Puma mine accounted for around 10% of Vale’s total nickel production last year.
(By Ricardo Brito, Marta Nogueira and Luana Maria Benedito; Editing by Anthony Esposito)
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