Brazil’s audit court, TCU, recommended that Vale’s proposed early renewal of an existing iron ore railway concession should be canceled, SteelOrbis has learned.
According to a document made available by the audit court’s ports, railways and infrastructure secretariat, Vale’s early renewal proposal presented “serious irregularities” as well “methodology mistakes.”
The document said the proposal for the early renewal of Vale’s Vitória-Minas iron ore railway, also known as the Estrada de Ferro Vitória a Minas (EFVM), did not present advantages. The recommendation was sent to both the Brazilian Ministry of Infrastructure and the local ground transportation agency, ANTT, for appreciation.
The railway transports iron ore, steel, among other products.