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Brazilian court gives green light to reopening of Vale mine

A court in Brazil has permitted Vale to resume activities in one of the company's mines. Local authorities must still follow up, but in the pressured capesize segment, the news has already been well received, an investment bank tells ShippingWatch.

Photo: /ritzau/AP

Brazilian mining company Vale has received permission from a domestic court to reopen activities in the Brucutu mine, says Vale on its website.

This announcement is fortunate news for the squeezed capesize segment, says chief analyst of Cleaves Securities, Joakim Hannisdahl, to ShippingWatch.

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