Glencore, Rio Tinto-backed MRN wins key license for Brazil bauxite project

RIO DE JANEIRO, ​April ⁠30 (Reuters) - Brazil's ​largest bauxite miner, Mineracao Rio do ​Norte, ‌has obtained an installation ⁠license from environmental agency ⁠IBAMA for ​its Novas Minas project, clearing the way for extending ​operations in ‌western Para state until 2041, it said on Thursday.

* MRN ​shareholders include Glencore, South32 and ‌Rio Tinto

* The license concludes an environmental ‌review process started in 2018 and authorizes MRN to ​begin construction work at five new ‌mining sites across three cities

* 9 billion reais ($1.80 billion) ⁠in ⁠investments planned between ‌2027 and 2041

* Annual bauxite production ​target ​of 12.5 ‌million metric tons ($1 = 4.9950 reais) (Reporting by Marta Nogueira, Editing by Louise Heavens)

Glencore

Rio Tinto