Brazilian miner Vale has announced that, as a result of the temporary suspension of production at its Brucutu mine, it is declaring force majeure on a number of related iron ore and pellet sales contracts.
Vale stated that it reaffirms its understanding that there is no technical basis nor risk assessment to justify the decision of a local court - announced on Monday this week - to suspend operations at the Brucutu mine and that it is adopting the appropriate legal measures to resume its operations at the soonest possible time.