Court suspends Vale’s $1.5bn deposit in Brumadinho case
The amount would ensure the enforcement of any potential fine or forfeiture of assets, rights and values related to the disaster.
The amount would ensure the enforcement of any potential fine or forfeiture of assets, rights and values related to the disaster.
Pilot plant will have the capacity to concentrate 30 tonnes per hour of dry ore, using magnetic separation technology, made by means of rare earth magnets.
Vale suspended dividend payments after the 2019 collapse of its dam in the town of Brumadinho.
The amount would ensure the enforcement of any potential fine or forfeiture of assets, rights and values related to the disaster.
Construction and engineering works are progressing to plan at the copper-gold project in Brazil, with start-up expected in H2 2021.
Technology uses natural gas to reduce iron ore for use in steelmaking, offering lower CO2 emissions.
According to the companies, this is the first Batteries as a Service deal in the world.
Siani Pires said the company is waiting for more certainty around the coronavirus pandemic before approving the move.
The move was based on conservative studies and an "extreme" hypothesis of a dam burst.
Vale says request is a “transparent publicity stunt” crafted to avoid paying a $2bn arbitration award.