Brazil's mining giant says environmental protection cannot halt its development

Brazilian iron ore mining giant CVRD, which had just announced plans to buy Australia's coal producer AMCI, said on Monday that its development cannot be halted by environmental questions.

When questioned about the effects of coal combustion to the environment, Gabriel Stoliar, CVRD's director of planning and control, said that the question of environmental protection cannot halt development.

Environmentalists warned that the burning of coal, destined to the production of energy and steel, is one of the main sources of greenhouse gases, which contribute to global warming.

CVRD will do whatever can be done to avoid the negative effects on the environment, said Stoliar. He said that CVRD is studying alternatives to coal, but the company would not be able to simply abandon it.

CVRD, the world's largest iron-ore exporter and the second-biggest miner, said on Monday it will buy Australia's AMCI for 661 million U.S. dollars in cash.

It also said it plans to be among the top ten companies in the coal sector by 2010.

Source: Xinhua