Saturday, Feb05 2011
BRASILIA Feb 5 (Reuters) - Brazilian mining giant Vale VALE 5.SA (VALE.N: Quote) has bought a massive area for the construction of a new port in the state of Para, O Estado de S. Paulo newspaper reported on Saturday.
The Porto do Espadarte is still a "strategic opportunity" being studied, said Mauro Neves, planning director at Vale, according to the newspaper.
The project would help reduce the distance between the Carajas mines and shipment, the newspaper said, but faces opposition from environmental groups and others.
Neves added that any construction is unlikely to begin before 2015, according to the newspaper.
(Reporting by Ana Nicolaci da Costa; Editing by Will Dunham sourced:Reuters)
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment