Brazilian pellet producer Samarco, a 50/50 joint venture (JV) between BHP Billiton and Vale, could obtain the operating license it needs and resume operations by September this year, a media report by Bloomberg said this week.
Minas Gerais state environmental regulator Semad said the operating license could be provided by the second half (H2) of the year. The media report said both Samarco and regulators have agreed the pellet producer could obtain a formal permission to operate by September this year.
If Samarco resumes operations in September, it would be able to start paying about $3.8 billion in debt.