Chinalco could invest $426 million in Suriname bauxite project
If approved by parliament, Chinalco could begin construction by the middle of next year.
Iron ore miner Vale SA has won approval from Brazil’s antitrust regulator to buy three wind farms in the northeast of the country from investment fund Salus, according to an announcement in the official gazette on Tuesday.
In announcing its decision, the Administrative Council for Economic Defense (CADE) did not disclose the price of the acquisition.
“The operation is in line with Vale’s objective of meeting its demand for energy through generation from renewable sources such as wind,” CADE said, citing information provided by the companies.
The move has comes as Vale aims to generate all of its energy needs from renewable sources.
Salus is controlled by the Mário Araripe Group, owner of wind farm developer Casa dos Ventos.
(Reporting by Marta Nogueira Editing by Marguerita Choy)
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