July 3, 2013 / 8:41 PM / in 5 years

Vale says obtained license to build Serra Sul mine in Brazil

RIO DE JANEIRO, July 3 (Reuters) - Vale SA, the world’s largest iron ore miner, received a license from Brazil’s Environmental Protection Agency for its $19.5 billion Serra Sul mine, CEO Murilo Ferreira said on Wednesday, adding that operations should begin in 2016.

Vale’s shares trimmed losses after the announcement but still closed 0.9 percent lower at 25.86 reais.

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