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Vale SA Declares Force Majeure on Coal Shipments in Mozambique


Monday, 18 Feb 2013 04:01pm EST 

Vale SA announced that it has declared force majeure (FM) on a number of its coal sales contracts on February 15, 2013. The Company communicating with customers as required under its agreements with them. High rainfall since early February 2013 and continuing over the last few days in Tete, Mozambique, has created serious challenges to the Linha do Sena railway, thus impacting the transportation of its coal products. So far, the Company estimates a loss of approximately 250,000 metric tons in metallurgical coal shipments. It will disclose further information related to the evolution of these events until the situation has been normalized. 

Company Quote

14.79
-0.04 -0.27%
2:35pm EDT