Greece to sell troubled nickel producer Larco’s assets
Greece will start a liquidation process for Larco in the coming days.
Greece will start a liquidation process for Larco in the coming days.
The agreement formally ends a long-running tax dispute, setting a template for negotiations with other firms.
Fabio Schvartsman was supposed to be the fresh face that would help Vale SA, the world’s biggest iron ore miner, advance after a 2015 dam collapse.
Fabio Schvartsman is the highest-profile executive facing criminal charges for Brazil’s worst environmental disaster.
In an industry beset with tight margins, such cost hikes are not ideal.
The announcement comes almost a year after the incident.
Caldas Gold, the new miner’s name, will initially have the same executive team as the parent company, but the project team will be different.
The step comes as US politicians have been pushing for increased domestic mining of specialized minerals.
A manifesto signed on Friday said Bolsonaro was threatening the survival of indigenous people with plans to allow commercial mining and ranching on their protected lands.
The project has 8.1 million tonnes in proven and probable mineral reserves grading 8.64% zinc, 8.1% lead and 124.22 grams silver per tonne