Vale pledges to quickly replace outgoing board members
Vale's board now has 11 members following the departure of Vera Marie Inkster on Monday.
Vale's board now has 11 members following the departure of Vera Marie Inkster on Monday.
On Monday, the miner reported the resignation of Vera Marie Inkster.
The offer unveiled earlier this month was less than the government's target, but Vale has expressed hope that a "consensus" would be achieved by the end of month.
The claimants allege the companies asked the Brazilian Mining Association to make the claim at the Supreme Court.
Both licenses are expected to be reinstated within 48 hours.
Vale last tapped global markets in June of 2023, with a $1.5 billion sale of bonds.
The new lawsuit comes as Vale and BHP hope to reach a tentative agreement by the end of this month.
The mining giant sees the potential to expand production capacity to about 500,000 tons of copper by 2028 mainly through improvements to its Salobo and Sossego mines in Brazil.
A court decision halted the mine at the beginning of April.
Vale sees potential copper output in 2026 between 387,000 tonnes and 424,000 tonnes.