Vale to prioritize Brazil iron
canada goose coats RIO DE JANEIRO, Sept 26 (Reuters) Vale, the canada goose outlet online world second largest mining company, is likely to make its $19.5 billion Serra Sul iron ore mine project in Brazil a priority over a similar development in the West African nation of Guinea, a source with knowledge of the firm strategy said. canada goose coats
cheap Canada Goose The emphasis on the canada goose outlet in usa project in the canada goose outlet belgium Amazon comes as Guinea, which holds rich deposits of iron ore and is the world top supplier of the canada goose outlet website legit aluminum ore bauxite, struggles to maintain canada goose outlet new york city foreign investment amid deepening political turmoil, labor canada goose outlet winnipeg unrest and a government review of mining contracts. cheap Canada Goose
uk canada goose The granting canada goose outlet las vegas in June of a so called preliminary environmental license for the Sierra Sul project, which includes railway and port investments, means the development of the Simandou site in Guinea is canada goose parka outlet less urgent, the source said on Tuesday. uk canada goose
Canada Goose Outlet things considered, projects need to be prioritized, said the source, who asked not be named as his employer does not allow him to speak to the press. priority canada goose outlet mississauga has become Serra Sul. Canada Goose Outlet
Canada Goose Parka MAJOR HURDLES canada goose outlet uk sale Serra Sul is an extension of Vale giant Carajas iron, copper and nickel canada goose outlet new york mining complex in Brazil Para state. It is expected to have a capacity of 90 million tonnes a year, about 9 percent of current world iron ore exports, helping maintain Vale position as the No. 1 producer. Canada Goose Parka
Canada Goose sale Simandou, while holding enormous high quality reserves, faces major political, commercial and transportation hurdles before it can be developed. Canada Goose sale
canada goose Guinea recently revised its mining code, raising the state mandatory stake in mining projects to 35 percent from 15 percent and plans to change other clauses in the code after consultation with mining companies. canada goose
buy canada goose jacket cheap believe it will be difficult for Vale to invest in both projects at the same time because it would require very high capital spending for the company, said Marcelo Aguiar, metals and mining company analyst with Goldman Sachs in Sao Paulo. buy canada goose jacket cheap
Canada Goose Jackets investment in Simandou appears to have lost a bit of its urgency after getting the license for Serra Sul. Canada Goose Jackets
uk canada goose outlet Vale gained canada goose outlet 80 off the rights to develop iron ore in Simandou in 2010 when it agreed to pay $2.5 billion for a 51 percent stake in the Guinea iron ore https://www.canada-gooseoutlets.ca mining operation of BSG canada goose outlet usa Resources Ltd, the London based mining group controlled by Israeli businessman Beny Stenmetz. hop over to this site uk canada goose outlet
canada goose clearance A newspaper in Brazil reported on Sunday that BSG was preparing to sue investment bank BTG Pactual, which it accuses of misusing its role as an canada goose uk adviser to Guinea government canada goose outlet in canada to win licenses for a holding company at BSG expense. canada goose clearance
Guinea mines minister Mohamed Lamine Fofana called BSG Resources threat to sue BTG in an e mailed response to questions from Reuters.
AT THE CENTER The Serra Sul mine is at the center of plans to boost Vale iron canada goose outlet toronto factory ore output by 40 percent to 460 million metric tonnes a year in 2017.
canada goose coats on sale Serra Sul and Carajas are two of the largest high grade iron ore projects under development to meet canada goose outlet montreal soaring demand for iron ore from China. canada goose coats on sale
canadian goose jacket Vale produces more than a quarter of the world sea borne iron ore exports of more than 1 billion tonnes a year. Work to gain the preliminary Serra Sul license took nearly a canada goose jacket outlet uk decade. canadian goose jacket
cheap canada goose uk Vale, though, has been re evaluating its investment plans in the wake of a slowdown in China and sluggish growth in the United States, Europe and Japan. In late 2011, it cut planned 2012 spending 11 percent to $21.4 billion. cheap canada goose uk
canada goose store As iron ore prices fell canada goose outlet vancouver to three year lows earlier this month, slashing canada goose outlet legit billions from revenue, further cuts came under consideration canada goose store.