Vale’s $1 trillion iron mine in the Amazon wins approval

Posted by Washington Post: Juliet Eilperin on July 9th, 2012
Mongabay: The Brazilian government approved the environmental license for the expansion of an iron mine in the Amazon region, reports Vale, the Brazilian mining giant behind the project. The S11D mine will be an extension of Vale's existing Carajas complex in the state of Pará. The company will spend $8 billion to develop the mine, which the it says holds up to a trillion dollars worth of iron ore. Vale says the mine will begin operating in 2016 and produce up to 90 million tons of iron ore per year.......

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