By Paul Kiernan 

RIO DE JANEIRO -- Brazilian mining giant Vale SA said Friday its chief executive plans to step down when his term ends in May, amid reports of political pressure from government allies to replace him with an appointee.

Vale CEO Murilo Ferreira won't renew his contract when it expires May 26, after five years on the job.

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

(END) Dow Jones Newswires

February 24, 2017 08:36 ET (13:36 GMT)