Miners’ decarbonization strategies may strengthen their business profiles – report
According to Fitch Ratings, the commodity price rally is pushing companies to rebalance their capital allocation towards decarbonization investments and growth.
In securities filings, Vale projected costs from halted operations related to its dam that burst to fall from $3-$4 per tonne of iron ore in the third quarter to $2.5-$3.5 per tonne in the fourth quarter.
Winning bidders of mines whose leases expire by March 2020 would be able to start operations without delay if the mine has valid environmental and forest approvals.
Authorities suspect the company’s billionaire chief Kostyantin Zhevago has been engaged in money laundering and the embezzling of funds from a bank he formerly owned.