Brazil-based mining giant Vale has announced that it is lifting force majeure on certain iron ore shipments as of January 23, 2012.
Vale declared force majeure on iron ore shipments as of January 11, 2012, due to heavy rains affecting Minas Gerais state since mid-December, estimating a loss of 2 million mt of iron ore, equivalent to 0.6 percent of the company's output target for last year.