Centaurus Metals to acquire nickel sulphide project from Vale
The deal also includes the transfer of the Salobo West copper-gold project tenements to Vale.
The deal also includes the transfer of the Salobo West copper-gold project tenements to Vale.
Worries about demand for steel products also weighed on iron ore.
On Wednesday, Vale reported a $133 million quarterly loss, confounding analysts expectations of a $2.84 billion profit for the period.
The Brazilian miner reported a second-quarter net loss of $133 million after a year-ago profit of $76 million.
At issue was Siani's alleged failure to "fully and immediately" disclose information about the accident.
Brazil's mining regulatory agency had ordered Vale to halt operations at Vargem Grande in February to guarantee the stability of its dams.
The drop to 64.057 million tonnes came as several major operations remained fully or partially shut down in the second quarter following a deadly dam burst at the Corrego do Feijão mine.
Nearly 25 asset management firms and some pension funds are seeking compensation for losses derived from Vale's plummeting share price since the disaster.
Vale had announced it would pay $106 million to compensate workers affected by the deadly rupture of a tailing dam in January.
In a statement, Vale said the deal also involves individual compensation for moral and material damages.