Vale lifts force majeure on iron-ore shipments

7th January 2014

By: Henry Lazenby

Creamer Media Deputy Editor: North America


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TORONTO ( – Brazil-based iron-ore mining giant Vale on Monday said that it had lifted a force majeure on a number of its iron-ore sales contracts.

The company declared a force majeure on December 27, as a result of heavy rain and unfavourable weather conditions that had impacted on operations and shipments in the south-eastern system, especially in the state of Espírito Santo.

Vale said it had managed to limit the impact on iron-ore shipments to 2.5-million metric tons from the original estimate of three- to four-million metric tons in December, of which up to 1.3-million metric tons could be potentially recovered in the first quarter of 2014.

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Edited by Creamer Media Reporter


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