Vale expects to regain Onca Puma and Sossego copper mine licences
Both licenses are expected to be reinstated within 48 hours.
Both licenses are expected to be reinstated within 48 hours.
Vale last tapped global markets in June of 2023, with a $1.5 billion sale of bonds.
The new lawsuit comes as Vale and BHP hope to reach a tentative agreement by the end of this month.
The mining giant sees the potential to expand production capacity to about 500,000 tons of copper by 2028 mainly through improvements to its Salobo and Sossego mines in Brazil.
A court decision halted the mine at the beginning of April.
Vale sees potential copper output in 2026 between 387,000 tonnes and 424,000 tonnes.
“The plateau means they’re going to shift from real estate to manufacturing,” Bartolomeo said during a conference.
The latest proposal from Vale and BHP totals 140 billion reais ($26.08 billion).
The agreement with Vale could reach some 20 billion reais ($3.70 billion).
Vale said the new proposal totals $26.09 billion.