The $7 billion in financing would be part of a renegotiated minerals-for-infrastructure deal.

The two countries are in discussions over investments in sustainable mining and energy transition, as stated by the Brazilian Minister of Mines and Energy.

The company has also hired BMO Capital markets to sell some of its smaller mines such as Las Cruces in Spain.

In the past twelve months, the company has experienced the departure of five top executives.

Ministro Hales suffered a pit wall collapse at the end of 2021, a situation that's still impacting the mine's operations.

It warned of “predatory activity” by unidentified groups offering investors less than 10% of the underlying value of their shares.