(DIR) Home
        
        
       Vallourec receives approvals for mine extension project in Brazil
        
 (HTM) Source
        
       ----------------------------------------------------------------------
        
       Vallourec, a world leader in premium tubular solutions, announces that
       it has received the necessary approvals from the state environmental
       authority (COPAM) and federal mining regulator (ANM) to progress the
       first extension phase of its Pau Branco iron ore mine.
        
       The mine, located in the state of Minas Gerais, Brazil, provides raw
       materials for Vallourec's vertically-integrated tube production
       process and diversifies the Group's earnings streams via external iron
       ore sales.
        
       The Phase 1 project will extend the Pau Branco mine's life, improve
       its reserve quality, and enhance its profitability. After this
       successful approval process, the capital investment related to the
       Phase 1 extension activities will begin on schedule. Vallourec
       therefore reiterates its expectations of a successful start-up of the
       Phase 1 extension in late 2024.
        
       In-line with prior communication, Vallourec expects the Phase 2 mine
       extension to be completed in 2027. Vallourec management is currently
       engaging with state and national authorities to obtain the required
       production and environmental permits for Phase 2.
        
       Throughout its daily operations and the progression of these new
       projects, Vallourec prioritises safety and environmental
       responsibility above all.
        
       "With these extensions, the Pau Branco mine will continue to support
       our Tubes business and our customers. These high-return, rapid payback
       projects will also contribute to Vallourec's financial performance and
       maximise the value generated by our Brazilian asset base. Our
       implementation process is fully focused on safety, environmental
       protection, production efficiency, and respect for all of our
       stakeholders,", said Philippe Guillemot, Chairman of the Board and
       Chief Executive Officer of the Vallourec Group.
        
       Read the article online at:
       https://www.globalminingreview.com/mining/02072024/vallourec-receives-
       approvals-for-mine-extension-project-in-brazil/
        
       **Embed article link:** (copy the HTML code below):
        
       * * *
        
        
        
        
       ______________________________________________________________________
                                                 Served by Flask-Gopher/2.2.1