Iron ore majors ramp up supply even as China faces challenges
Iron ore is one of the year’s worst performing major commodities, slumping by almost a quarter as China’s property crisis drags on.
Brazilian mining giant Vale SA (NYSE:VALE) confirmed Tuesday its plans to issue euro-denominated overseas bonds, according to a briefing published at PyS Noticias
According to the report, the miner is planning a benchmark-size, euro-denominated bond, maturing January 2023. This will be Vale’s first issue in the currency in more than two years.