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Vale carries out $4.2 billion write-down

The Brazilian mining company Vale has carried out a write-down of US$4.2 billion following an annual estimation of the Onca Puma mine and the company’s aluminum assets. The write-down will affect the company’s result for the fourth quarter, the company writes in a press release.

Problems involving two furnaces in the Brazilian nickel mine Onca Puma and a drop in the price of aluminum have forced the Brazilian mining company Vale to carry out a write-down of US$4.2 billion before taxes.  

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