Larco, which is 55% owned by the Greek state, owes about 280 million euros in unpaid electricity bills to state-controlled power utility Public Power Corp.
Vale has focused on sales of better quality iron ore, mostly from its S11D project in Pará state, as demand for the cleaner and less polluting product rises in China, its main market.
Africa's No.2 copper producer plans to introduce new mining duties, replace Value Added Tax with sales tax and increase royalties to help bring down mounting debt.
2018 was a relatively quiet year for the junior mining sector, we hope to see more of an upswing in 2019 - Dean Braunsteiner, national mining leader, PwC Canada
