Vale lowers expectations for 2019 sales after Brucutu mine suspended again

Brazil’s Vale is expecting its 2019 iron ore and pellets sales to fall between the bottom and the middle of its targeted 307-332 million tonnes, after a court decided to stop its 30-million-tonne-per-year Brucutu mine once again.

The Minas Gerais Court of Justice has “monocratically decided” to suspend the effects of the ruling by the Lower Public Treasury Court of Belo Horizonte in March that authorized the resumption of activities at the Laranjeiras tailings dam and the Brucutu mine, the miner said late on Monday May 6. As a result, iron ore wet processing operations at Brucutu have been halted, it added. Last month, Vale said it was expecting its iron ore sales volume...

Published

July Zhang

May 07, 2019

07:41 GMT

Singapore