Vale has focused on sales of better quality iron ore, mostly from its S11D project in Pará state, as demand for the cleaner and less polluting product rises in China, its main market.
Changes to Brazil’s 50-year-old mining regulations also came in effect Wednesday and include measures that make the country’s industry more competitive and sustainable.
Relief that an escalation in the trade war between the US and China has been avoided – at least for now – sparked a huge rally in mining stocks on Monday.