Vale, Jinnan invest $627m in iron ore plant in Oman
Facility in the port city of Sohar will process 18 million tonnes of iron ore from 2027.
Facility in the port city of Sohar will process 18 million tonnes of iron ore from 2027.
Bacci, who served as finance chief for pulp maker Suzano, will replace Murilo Muller, who is temporarily serving in the job.
The collapse of the dam at an iron ore mine owned by Samarco killed 19 people.
Vale reported a 10% decline in its net revenue year-on-year to $9.55 billion, in line with analyst expectations.
The agreement could be signed this week, nearly nine years after the 2015 disaster in the city of Mariana.
The Americas-focused mid-tier gold miner has cut its full-year production forecast to 235,000 oz. at the midpoint.
As of Friday, the negotiations between the parties were ongoing and no final agreement has been reached on the settlement amount or terms.
Petrobras and Vale are two of Latin America's largest companies by market value.
Vale plans to replace copper production from the depleting Sossego open pit mine with output from Bacaba by 2026.
Cosan is a Brazilian commodity giant with a stake of just over 4% in Vale.
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