keywords :
Anglo American PLC expects to receive long-awaited licenses which will pave the way for the mining company to boost its Brazilian iron ore production capacity by about 56 %. Anglo American plans to invest 1 billion reais (USD 308.94 million) to expand its iron ore extraction capacity at Minas-Rio mine in Minas Gerais state to 26.5 million tons per year from 17 million.
The pre installation and installation licenses are up for consideration Friday by a council at Semad, Minas Gerais’ state environmental regulator, part of a process begun in 2015. If the licenses are granted, the company will be able to start construction to extend the mining system, including upgrading a tailings dam and opening a pit.
The company will still need an operating license from the state environmental agency to begin operations. The company said it was confident it would receive approval Friday. The company said that “We believe in the robustness of the process, the support of communities and the endorsement of all relevant authorities.” Anglo American bought the project from businessman Eike Batista between 2007 and 2008 for nearly USD 5.5 billion, then the biggest foreign mining investment in Brazil.