Mineracao Rio do Norte (MRN), Brazil’s largest bauxite producer, has secured a key installation licence for its Novas Minas project, which seeks to extend operations in Pará state to 2041.
The permit from environmental agency IBAMA allows the Glencore (LSE: GLEN), South32 (ASX: S32) and Rio Tinto (ASX, LSE, NYSE: RIO)-backed joint venture to begin construction at five new mining sites across three municipalities, marking a major step in a licensing process launched in 2018.
The licence represents a milestone in advancing Novas Minas and securing the long-term future of operations, underscoring the project’s role in sustaining output from one of the country’s most important mining hubs.
$1.8B development
MRN plans to invest about 9 billion reais (US$1.8 billion) between 2027 and 2041 to develop the project, targeting annual production of 12.5 million tonnes of bauxite, in line with current output levels.
The move highlights the strategic importance of extending MRN’s mine life at Porto Trombetas, where the Brazilian miner has operated since 1979 and maintains installed capacity of 18 million tonnes per year, as global demand for aluminum feedstock remains strong.
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