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.
BY JAKOB VESTERAGER
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.
Belgian shipping family Saverys acquires additional shares in Euronav and now only needs a small increase of its equity position to block a full merger between the tanker operator and rivaling company Frontline.