Brazilian mining giant Vale has signed agreements to have the operating licences for its Onca Puma and Sossego mines reinstated in Brazil.
The agreements have been signed with the Pará State General Attorney’s Office and the Pará State Environment Secretariat (SEMAS) and are approved by the Supreme Court (STF), under the Centre of Consensual Conflict Resolution.
The licences are expected to be restored by the environment authority within 48 hours, enabling Vale to recommence operations promptly, the company said.
Vale is planning to implement socio-environmental measures in line with the terms defined between the involved parties.
The development comes after the suspension of the two mines’ operating licences earlier this year.
This was due to reported irregularities in an environmental report and alleged non-compliance with mining mitigation efforts, according to Reuters report posted on Mining.com.
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By GlobalData
In May 2024, Reuters reported that Vale and the state government were nearing a court-mediated agreement as Vale pledged to submit an updated environmental impact report that would satisfy the requirements of Para state.
Last year, the Sossego mine reported production of 66,800 tonnes (t) of copper. The Onca Puma nickel mine has an annual production capacity of 27,000t.
Last week, Bloomberg reported that Vale plans to invest $3.3bn (18.16bn reais) to increase copper and nickel production capacities in Canada and Brazil.
Planned over the next four years, this investment aims to significantly boost output, particularly of copper, by 2028.
The company plans to increase copper production capacity to approximately 500,000t.
