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Brazilian court closes second-largest Vale mine again

A Brazilian court has invalidated Vale's permit to reopen the company's second-largest mine after the accident in January. The decision has already impacted spot rates in the capesize segment and could, according to analysts, turn recent positive momentum around.
Photo: Ritzau Scanpix/Douglas Magno
Photo: Ritzau Scanpix/Douglas Magno
by SIMON VALEUR

The Minas Gerais Court of Justice in Brazil now invalidates the permit given by a lower-level court to Vale, allowing the company to reopen its Brucutu mine, the country's and the company's second-largest, says Vale on its website.

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