Articles for tag: Bigger, Brazil, lithium, project, Sigma

January 31, 2024

Ron Finklestien

mining

Sigma Lithium project in Brazil just got 27% bigger

Sigma Lithium Expands Project in Brazil Market Dynamics and Strategic Review With lithium prices plummeting by over 80% from their early 2023 peak and the market reeling from fluctuating expectations, both global giant and local niche producers are being blindsided. Amidst these turbulent times, Sigma Lithium initiated a comprehensive review of its business last year. Eye-catching Interest and Strategic Expansion In a move that shakes up the industry, Sigma Lithium disclosed that it had been approached with compelling expressions of interest for the acquisition of the company, its subsidiary Sigma Brazil, and the Grota do Cirilo project at the tail

January 26, 2024

Ron Finklestien

mining

BHP Faces Review of $9.7bn Charges Over Brazil Dam Failure BHP Faces Review of $9.7bn Charges Over Brazil Dam Failure

Five years have passed since the devastating collapse of the Fundão dam in Brazil, yet the repercussions for BHP, one of the joint owners of the Samarco venture with Vale, are far from over. The dam failure unleashed a cataclysmic 39.2 million cubic meters of tailings waste into the Rio Doce Basin, an environmental catastrophe that took the lives of 19 individuals. This week, BHP has been confronted with an interlocutory ruling, a pivotal development in the protracted legal fallout stemming from the calamitous event. BHP has been at the center of a legal maelstrom following the 2015 dam breach,

January 25, 2024

Ron Finklestien

mining

Legal Ruling Requires Vale, BHP, and Samarco to Pay $9.7 Billion in Damages Legal Ruling Requires Vale, BHP, and Samarco to Pay $9.7 Billion in Damages

Reparation and Cleanup Efforts Vale and BHP’s Samarco, which had been closed for five years, were focused on reparations, compensations, and clean-up efforts during that timeframe. Following several lawsuits and site inspections, the miner reopened Mariana Complex in December 2020 after ensuring its safety. Challenges and Shortcomings Brazilian prosecutors revealed that the Renova Foundation, established by the mining companies for damage reparation, failed to fulfill its commitments, creating additional challenges. Samarco announced the development of an enhanced security system in 2020, incorporating a monitoring and inspection center.

January 25, 2024

Ron Finklestien

mining

Aclara Rare Earth Project in Brazil Shows Encouraging Results Aclara’s PEA Shines Positive Light on Brazil’s Rare Earth Project

With an estimated 3.6-year timeline for recovering investments post-commissioning, Aclara’s Brazil rare earth project demonstrates promise despite the extended permitting process in the region. The recovery of rare earths in Brazil aligns harmoniously with the patented technology currently in action on a pilot scale in Chile. The company emphasizes a low-cost, low-carbon footprint methodology. “Our project design centers around eco-friendly principles, negating the use of explosives and milling, optimizing water recirculation, and utilizing common fertilizers as the primary reagent,” stated Aclara’s chief executive, Ramon Barua, underscoring the company’s commitment to sustainability. Aclara is actively securing additional resources through an ongoing

January 19, 2024

Ron Finklestien

mining

Brazil and Saudi Arabia Eying Mining Investments Brazil and Saudi Arabia Eying Mining Investments

During a bilateral meeting with the minister of investment and the minister of mining from Saudi Arabia, Brazil’s minister of mines and energy, Bento Albuquerque Silveira, underscored the indispensable nature of investments for Brazil in energy transition. Silveira emphasized that Brazil possesses a wealth of mineral potential, natural resources, and critical minerals, which are vital for the energy transition. Silveira conveyed that he had fervently discussed the energy transition with the Saudi officials, and they expressed a keen interest in investing in the energy and mining sectors in Brazil, acknowledging the country’s prominence in rare earths, a crucial component for