BRAZIL The official opening of the Sossego mine, the first copper producer for Rio de Janeiro-based COMPANHIA VALE DO RIO DOCE (CVRD), was held earlier this month and attended by Luiz Inacio Lula da Silva, president of Brazil.
The Sossego project is only one of several copper projects CVRD is working on in Para State. The project is based on two orebodies with proven and probable reserves of 244.7 million tonnes averaging 1% Cu and 0.26 g/t Au. The open pit is a truck-and-shovel operation feeding an 1,840-tonnes/hr concentrator. Capital cost of the project was US$413 million. Sossego made its first shipment of copper concentrate on June 3 through the Ponta de Maderia terminal on the northeastern coast.
CVRD is one of the largest iron ore producers in the world. The company has been mentioned in connection with a rumoured sell-off of NORANDA by its parent, Brascan. Visit the CVRD website at www.vale.com.br.