BHP-Vale deal distances Brazil mine from $53bn in lawsuits
Miners' lawyers filed documents late Thursday requesting that the presiding judge suspend two civil suits from 2015 Samarco dam spill.
Miners' lawyers filed documents late Thursday requesting that the presiding judge suspend two civil suits from 2015 Samarco dam spill.
Production goals for Vale's Carajas project, the world's largest open-air iron ore mine, are directly tied to cargo shipments on its railroad there, which carries output to Brazil's Ponta da Madeira port.
Samarco JV iron ore mine in Brazil remains closed two years after deadly dam burst.
Third quarter results for the Brazilian miner, the world's top iron ore producer, show a 19 million tonne gap between sales and output.
Iron ore production rose 3.3% compared with the same period last year to hit a fresh quarterly record of 95.1 million tonnes.
Guerra and Saboya, two of four competing candidates for the board, were nominated by Aberdeen Asset Management.
Move is part of a wider review of low performing assets after new Chief Executive Fabio Schvartsman took charge in June.
Mining reforms in Brazil are raising the cost of operating without generating increased interest in investing in the sector, an executive for world's largest iron ore producer Vale said on Monday.
The company is also interested in investing in the electricity sector itself or through a joint venture.
Bigger-than-expected shareholder support in Vale SA's stock conversion plan could lead the world's No. 1 iron ore producer to accelerate the listing of common shares in Brazil's strictest market segment and lure a boarder base of investors.
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