Brazil’s Vale gets $2.8bn for iron ore expansions
Loan will help the miner improve its railway network and build a new mining and processing unit in Para state
Loan will help the miner improve its railway network and build a new mining and processing unit in Para state
Brazilian giant acquired the interest in Simandou from diamond tycoon Beny Steinmetz's mining arm BSGR for $2.5 billion in 2010.
Former rebel group blamed for attack on crucial railway line that serves Vale and Rio Tinto's coal mines.
Brazilian giant Vale acquired the interest in Simandou deposit in Guinea from BSGR for $2.5 billion in 2010, but stopped payments after the first $500 million was forked over.
Guinean panel says rights to rich iron ore deposit were obtained through corruption.
Number one iron ore producer, Vale says first of its giant carriers will dock at its new Malaysian transshipment hub next month.
Brazil's Vale said over the weekend talks with Glencore over combining their Canadian operations continue, but no deal is likely "early this year."
Vale calls it 'Canada's mine of the future.'
Another blow to number one iron ore producer Vale's strategy to change dynamics of 1.2 billion tonne seaborne trade.
As consumers spend $4 billion on V-Day jewelry, 100 retailers endorse No Dirty Gold campaign's responsible mining principles.