December 4, 2017 / 1:41 PM / a year ago

Vale cash generation will pay dividends, lower debt -CEO

RIO DE JANEIRO, Dec 4 (Reuters) - Cash generation at Brazilian miner Vale will be used to pay dividends, cut debt, and should help improve the company’s rating, the CEO of the world’s top iron ore said on Monday.

“Paying dividends is a company policy,” Fabio Schvartsman said at an event in Rio de Janeiro. “We don’t want to keep the cash,” he added.

Schvartsman said investments in nickel had not yielded results the company had sought, but that Vale would seek to show better results were possible in the sector. (Reporting by Rodrigo Viga Gaier)

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