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Brazilian iron ore mining giant Vale, through its tech subsidiary New Steel, signed a protocol of intent with southeast state Minas Gerais to invest 4.4bn reais (US$795mn) in technology that eliminates the need for tailings dams.
The funds will be used to implement an innovative dry iron ore processing technology that drastically reduces the environmental impact and extends the life of mines, the state government said in a release. The process also will also create jobs and more revenue for three municipalities, it added.