Samarco Mineracao, the Brazilian mining venture that hasn’t operated since a deadly dam collapse in 2015, is close to regaining a licence to restart production and move closer to paying back $3.5-billion in defaulted debt.
The licence will most likely be granted within the second half of this year, the Minas Gerais state environmental agency press department said in an email. A Samarco spokeswoman declined to comment. Negotiations with creditors will resume in October following the license renewal, according to a person with direct knowledge of the plans.