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.