Arca is one of the first companies commercializing mineralization for the capture and storage of atmospheric CO2 that is supported by scientific research.

The mine is expected to remain in production to 2032.

According to the newspaper O Tempo, the compensation is expected to exceed that of the Brumadinho disaster, for which Vale paid $7.72 billion.

The company said it will resume production at its Rustenburg operations on Thursday.

Japan's top steelmaker already owns stakes in several coking coal mines.

The joint venture has exclusive access to approximately 48,500 square kilometres of land on the Arabian Shield.

Authorities will start “the transition process for the orderly and safe closure of the mine,” Laurentino Cortizo said in a post on X.

Guidance for copper and gold content was not affected by the production disruptions.