Column: US targets scrap to close the critical minerals gap
As the US government is discovering, investing in new scrap processing capacity is far cheaper and greener than building new mines.
A Brazilian court has ordered Vale SA , the world’s largest iron ore miner, to suspend two more dam operations, demanding that it prove the structures are stable.
The court decision dated Friday is the latest in a series of orders forcing Vale to halt operations at various dams that contain the muddy detritus of mining operations after one such barrier collapsed in January, killing some 300 people.
Vale has faced growing pressure to prove that its remaining dams are safe. The fatal disaster in the town of Brumadinho was the second of its kind in four years.
The miner said in a statement that the suspension of its Minervino and Cordao Nova Vista dams will not have a significant impact on its operations. It explained that mining waste was already being shipped to “other structures,” which it did not identify.
Vale said on Friday it had received a court order to suspend activities at a different dam.
Vale shares were down 1.1 percent shortly after midday in Sao Paulo, in contrast to a rally in rival miners such as Rio Tinto and BHP. Both those shares were boosted by a gain in Chinese iron ore futures.
(By Marta Nogueira; Editing by Jeffrey Benkoe and Richard Chang)
Click here for complete coverage of the dam burst at Vale’s Córrego do Feijão mine.
