Vale Cleared to Reopen Tubarão Port
January 25 2016 - 8:02PM
Dow Jones News
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.
Vale (NYSE:VALE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Vale (NYSE:VALE)
Historical Stock Chart
From Apr 2023 to Apr 2024
