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 miner Vale SA may adjust provisions for a deadly dam burst in Brumadinho this year as part of its second-quarter results following a settlement with workers, the company said in a securities filing on Tuesday.
Vale announced on Monday it would pay 400 million reais ($106 million) to compensate workers affected by the deadly rupture of a tailing dam in January. The company did not detail how it planned to change its provisions.
($1 = 3.7673 reais)
(By Carolina Mandl)
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