The world's largest mining and construction equipment maker beat market expectations for fourth quarter earnings and said its sales growth momentum is expected to continue in 2018.
Receiving the necessary licences would allow the company to continue operating in the state of Minas Gerais, where the iron ore mine is located, for at least another 15 years.
Proceeds from the private placement and financing will be used for exploration and development of the junior miner’s projects in Colombia and Nicaragua.
SEC will push ahead with the prosecution of the company, former chief executive Tom Albanese and ex-chief financial officer Guy Elliott over alleged attempts to cover up multi-billion losses on a coal investment in Africa.
President Emmerson Mnangagwa, who took the post in November, has ordered an examination of both industries that may lead to the abolition of the 51% local ownership rule on them.
