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Vale denies iron-ore streaming financing deal in the works

11th August 2016

By: Reuters

  

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SAO PAULO – Vale, the world's largest producer of iron-ore, denied it plans to raise cash from the sale of future iron-ore output through a so-called streaming financing transaction.

Rio de Janeiro-based Vale told the securities industry watchdog in a filing that the information regarding the streaming financing deal was "not true". Reuters reported on August 3 that Vale expected to raise up to $10-billion from the sale of about 3% of future iron-ore output to undisclosed Chinese companies.

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Edited by Reuters

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