February 7, 2014 / 5:05 PM / 4 years ago

STXNEWS LATAM-Brazil's Vale gets license to expand main Carajas iron mine

Brazil’s Vale SA , the world’s No. 2 mining company, received government approval to expand output at its Serra North mine at its Carajas Project in the Brazilian Amazon, the company’s press office said on Friday. The licenses are for areas in the N4 section of the mine. The approval should allow the company to meet its production target of 312 million tonnes of iron ore in 2014, Credit Suisse Analysts Ivano Westin and Marina Melemendjian in Sao Paulo and Santiago Perez Teuffer in Mexico City wrote in a report to investors on Friday.

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