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Vale SA suspends force majeure on iron ore shipments


Monday, 6 Jan 2014 06:22am EST 

Vale SA:Says it suspends force majeure (FM) on a number of its iron ore contracts, effective as od Jan. 6.Says the declaration of FM occurred due to high rainfall in the southeastern Brazil, mainly in Espirito Santo state.Says the company managed to decrease a loss initially estimated at between three and four million metric tons to 2.5 million metric tons in iron ore shipments in Dec. 2013, of which up to 1.3 million metric tons could be potentially retrieved in the first quarter of 2014. 

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17 Apr 2015