To date, the company has invested $45 million in Nicaragua, completed over 70,000 meters of drilling on its flagship La India asset, and produced two PEAs and a PFS.
Indonesia has now amended contracts of all 68 coal mining companies, marking victory for the government after earlier miner resistance to adopt to new terms.
During a meeting with investors and analysts in Sao Paulo, Vale’s investor relations director, André Figueiredo, said it seemed “natural” for his company to become the sole owner of the project.
Stung by some lousy investments that led to billions of dollars in losses a few years ago, the world’s major gold producers have cut back on mining deals.