Vale Renegotiates Railway Concessions Deal, Commits $1.8B Investment

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Vale Agrees to $1.78 Billion Railway Concessions Deal in Brazil

MT NewswiresDec 31, 2024 19:26

Vale SA (VALE.US) has reached a $1.8 billion railroad concession agreement with the Brazilian government.

Vale SA (VALE.US) announced in a securities document on Monday that it has reached an agreement with the local government to pay up to approximately 11 billion reais (1.78 billion dollars) to renegotiate two railroad concession contracts.

Zhitong FinanceDec 31, 2024 11:35

Vale SA will renegotiate two railroad concession contracts with the government.

On December 31, Geloonghui reported that Vale SA, the Brazilian mining company, announced on Monday that it has reached an agreement with the local government to pay up to approximately 11 billion reais (about 1.78 billion US dollars) to renegotiate two railroad concession contracts, which were extended to 2057 in 2020. As one of the largest iron ore producers globally, Vale SA's negotiations with the Brazilian government regarding railroads are directly related to transportation costs, the stability of the mineral supply chain, and the company's performance.

Gelonghui FinanceDec 31, 2024 11:08

Express News | Market News: Vale SA has reached an agreement with the authorities to renegotiate the concessions for the Carajas, Victoria, and Minas Railroads.

BreakingsDec 31, 2024 05:20