Brazilian miner Vale (NYSE: VALE) is studying the possibility of extracting rare earths, gold and other minerals from mining waste as part of its circular economy strategy, a Vale executive said on Wednesday.
Research is in its early stages, but preliminary results have been encouraging, Vale’s executive technical vice president Rafael Bittar told journalists.
The strategy is part of the company’s goal to reduce waste generation and increase the reuse of materials that have already been extracted.
The search for rare earths comes amid growing global interest in minerals used in electric vehicles, wind turbines and defense technologies.
Vale, one of the world’s top iron ore producers, developed over 20 million metric tons of iron ore from mining waste last year, Bittar said.
(Reporting by Marta Nogueira; Writing by Fernando Cardoso, Editing by Iñigo Alexander)
