Anglo American confident it will get its long-awaited licences to expand in Brazil
Rio De Janeiro — Anglo American said on Tuesday it expects to receive long-awaited licences on Friday that 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 ($308.94m) to expand its iron ore extraction capacity at Minas-Rio mine in Minas Gerais state to 26.5-million tonnes a year from 17-million. The pre-installation and installation licences are up for consideration on Friday by a council at Semad, Minas Gerais’s state environmental regulator, part of a process begun in 2015. If the licences 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 licence from the state environmental agency to begin operations. In an e-mail to Reuters, the company said it was confident it would receive approval on Friday. "We believe in the robustness of the process, the ...
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