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Vale and Asian Miner Seek Brazil Nod to Fast-Track Mine Projects

  • New policy of Brazilian president aims to streamline licensing
  • Vale cited permitting delays for lowering forecasts last week
ANGLOGOLD ASHANTI BRASIL

Photographer: Pedro Lobo/Getty Images

Mining giant Vale SA and an Asian-owned metals producer are among the first to tap a Brazilian program that aims to cut red tape and speed up mining projects in the South American nation.

Vale and Sul Americana de Metais S.A. have qualified for a new policy adopted by Brazil’s Jair Bolsonaro administration that aims to streamline the licensing process for mining projects considered strategic to the country’s economic development. The Pro-Strategic Minerals policy was created in March to boost resources and production of minerals used in high-tech products and deemed vital for trade surplus.