Critics doubt that Ibama has enough people and resources to enforce the new law.
Ibama wants at least 10% of the region declared a conservation area, where logging would be banned.
The environmental protection agency, Ibama, also gave it its blessing, also despite divisions and resignations of top officials.
It has yet to meet 16 of them, according to environmental regulator Ibama.
Ibama estimated that 2, 300 barrels of oil oozed out of the sea bed because of the Nov. 9 drilling accident.
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The company is struggling with money to meet 40 social and environmental conditions required before a full installation permit is granted by the environmental licensing authority Ibama.
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In December a team from the Brazilian Environmental Institute (IBAMA) tried in vain to find the bird in the Curaca region, some 600 km (370 miles) north of Salvador de Bahia.
While no indigenous villages will be relocated because of the dam, Ibama said that at least 20, 000 people in Altamira and surrounding areas will have to move because of the construction.
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To make up for the reduced area in some parts of the Amazon, the Brazilian environmental protection agency, Ibama, said that the government would be increasing preserved areas in other parts of the rainforest.
Once those 40 requirements have been satisfied, then Ibama will grant a full installation license and the massive Brazilian National Development Bank (BNDES) will likely step in with a bridge loan to get the project started.
The demonstrators accuse Norte Energia of damming the final canal of the river without having solved the matter of how to move boat traffic from one side of the cofferdam to the other, as required by the Installation License issued by Ibama.
If Vale is seen spending money to get NESA up to speed on meeting the 40 requirements set forth by Ibama (it has only met about 25 of them so far), that will likely be seen as a negative on the stock.
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