Santa Rita Mine approval
Mirabela Nickel, an Australian company planning to develop a nickel mine in the Brazilian state of Bahia, has won environmental approval for the project.
Construction on the Santa Rita nickel sulfide project can begin once an environmental management plan and feasibility study has been approved.
The project is on schedule to get all necessary licenses by April.
An initial accord has been signed with the Bahia state government to obtain cuts on taxes and import duties on the project that is estimated to contain 335,000 metric tons of nickel.
Shares in Mirabela slipped 13 cents, or 3.9 per cent,to $3.17 on Tuesday.
