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CVRD negotiates bauxite with Aroaima Mining.
South American Business Information, March, 2004
Brazil, Mar 10, 2004 (Gazeta Mercantil/SABI via COMTEX)
The Brazilian mining company CVRD (Companhia Vale do Rio Doce) is negotiating the acquisition of bauxite with Aroaima Mining Company, controlled by the government of Guyana, to supply the Alunorte alumina plant, which will expand from 2.4mil m tons to 4.2mil m tons. The group has faced troubles with the government of Para as the latter has not issued the environmental license for the Paragominas mine yet. Vale intends to increase alumina exports from US$300,000 in 2003 to US$1.3mill in 2004. According to market sources, Vale needs 3.6mil m tons of bauxite. The aluminum division is one of Vale's core businesses, along with iron ore and copper. Alunorte will receive US$182mil in investments this year out of...
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