May 10, 2019 / 4:26 PM / 12 days ago

Brazil's Vale CFO expects Samarco joint venture output to resume by 2H 2020

FILE PHOTO: The debris of the municipal school of Bento Rodrigues district, which was covered with mud after a dam owned by Vale SA and BHP Billiton Ltd burst, is pictured in Mariana, Brazil, November 10, 2015. REUTERS/Ricardo Moraes

SANTIAGO (Reuters) - Vale’s chief financial officer said on Friday that the Brazilian miner expects iron ore production at its Samarco joint venture with BHP Group Ltd to resume in the second half of 2020 after a tailings dam burst in 2015.

Luciano Siani told analysts on a conference call that Vale expects to receive the needed licenses to restart the mine by September of this year but that added investments will be required after that for the facility to resume operations.

Reporting By Christian Plumb; Editing by Marguerita Choy

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