Chinese Honbridge Confident US$2 Billion Brazil Iron Mine Will Go Ahead

The project had to undergo major changes and restructuring to incorporate innovations, including plans for the social and economic development of the surrounding region.

RIO DE JANEIRO, BRAZIL - (Reuters) Chinese mining company Sul Americana de Metais (SAM), a unit of China’s Honbridge Holdings, is confident it will receive the necessary permits to start up its US$2.1 (R$9) billion iron ore project in Minas Gerais, its chief executive told Reuters.

CEO Jin Yongshi said on Thursday he believed the Brazilian authorities will give the green light, despite the hurdles that have emerged in the wake of two fatal tailings dam disasters in Brazil in the last four years.

The company has lowered the environmental impact of the mine and increased operational . . .

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