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VALE Vale SA

12.27
0.10 (0.82%)
02 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Vale SA NYSE:VALE NYSE Depository Receipt
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  0.10 0.82% 12.27 12.375 12.10 12.19 14,476,200 01:00:00

Vale Cleared to Reopen Tubarão Port

26/01/2016 1:02am

Dow Jones News


Vale (NYSE:VALE)
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   By Paul Kiernan 
 

RIO DE JANEIRO--Brazilian mining company Vale SA said Monday it has successfully appealed a judge's order to halt activity at its second-busiest port and that it can resume iron-ore exports from southeastern Brazil immediately.

Vale's Tubarão port complex had been shut down since Thursday after a federal court ruled against the company in a case involving alleged pollution at the facility. The port shipped about one-third of Vale's total iron-ore production in the first nine months of 2015.

Local press reported that the stoppage cost Vale more than 35 million reais ($8.6 million) a day. Vale didn't say whether it might be able to recoup those losses.

Write to Paul Kiernan at paul.kiernan@wsj.com 

(END) Dow Jones Newswires

January 25, 2016 19:47 ET (00:47 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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