Brazil considers Vale and SAM iron ore projects as strategic for the country

Tuesday, 07 September 2021 19:08:24 (GMT+3)   |   Sao Paulo

The Brazilian Multi-Ministry Committee for the Evaluation of Strategic Mining Projects (CTAPME) has included two Vale projects, as well as a Sul Americana de Metais (SAM) multi-billion iron ore project as part of the nation’s strategic mining policy agenda.

The three projects make up a list of five other projects that qualified to get government aid as a strategic initiative. The SAM project, also known as Sul Americana de Metais-Projeto Bloco 8, is a $2.1 billion iron ore near the city of Grao Mogol in Minas Gerais state. SAM Metais is owned by Chinese holding Honbridge Holdings.

The other two Vale projects that were listed as “qualified” include its two iron ore projects Vale S.A- Projeto Mina N3 and Vale S.A- Projeto N1 and N2. Vale also qualified a third project that is copper-related.

Out of the eight projects reviewed, two others are still pending a decision and another one, known as Paco Mineração, a manganese project, didn’t qualify.

As reported by SteelOrbis, earlier this year, the Brazilian government set this committee, which has the authority to determine which mining products are relevant for Brazil’s domestic output. Additionally, it can also follow-up on or draft reports regarding the government’s policy for such “strategic” mining products, as well as receive, review, and approve mining projects, among other tasks.

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