Reported 3 days ago
Brazilian mining giant Vale has reached a deal with local authorities to pay about 11 billion reais ($1.78 billion) to renegotiate two railway concession contracts, including those for the Carajas and Vitoria a Minas railways. This agreement, which is expected to increase Vale's railway provisions by 1.7 billion reais, still requires additional approvals. The deal aims to eliminate discounts previously granted to rail companies by the former administration.
Source: YAHOO