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Brazilian Miner to Reclaim License With Help From Former Greenpeace Adviser

  • Company expected to get its enviromental permits by September
  • Restarting operations may facilitate payment on defaulted debt
The rebuilding site next to the collapsed iron ore waste dam of Brazilian mining company Samarco in 2016. 
The rebuilding site next to the collapsed iron ore waste dam of Brazilian mining company Samarco in 2016. 

Photographer: Yasuyoshi Chiba/AFP via Getty Images

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Samarco Mineracao SA, the Brazilian mining venture that hasn’t operated since a deadly dam collapse in 2015, is close to regaining a license to restart production and move closer to paying back $3.5 billion in defaulted debt.

The license will most likely be granted within the second half of this year, the Minas Gerais state environmental agency press department said in an email. A Samarco spokeswoman declined to comment. Negotiations with creditors will resume in October following the license renewal, according to a person with direct knowledge of the plans.