Pará municipal chamber wants Vale to pay $82 million for gold “hidden in copper”
The CPI alleges the company did not declare how much gold and silver was extracted from the Salobo mine.
The CPI alleges the company did not declare how much gold and silver was extracted from the Salobo mine.
The update showed a significant inferred mineral resource of 1.4 billion tonnes at a copper-equivalent grade of 0.67%.
The updated PEA gives Gabbs an after-tax net present value with a 5% discount of $292.2 million and an internal rate of return of 17%.
Vale is exploring a copper mine, comparable to massive Grasberg site.
Iron ore prices have proved surprisingly resilient in recent months in the face of a crisis in China’s vital property market.
The potential plants would be focused on producing low-carbon products such as green hydrogen and hot briquetted iron.
Vale had announced last year plans to develop the plants in Saudi Arabia, the United Arab Emirates and Oman.
Steel overproduction in China represents a potential catalyst for shares, JPMorgan said.
The product will help steelmakers cut their carbon emissions up to 10%.
The potentially open pittable inferred resource is 541 million tonnes at 0.69% zinc, 0.28% lead, and 13.6 grams silver per tonne for an NSR value of $20.32 per tonne.