Vale allowed to start operations in Brucutu
The Brazilian mining giant Vale is allowed to start operations in the Brucutumine, the company's largest iron ore mine, according to a court decision.
Production has been stopped since February when a court decided to stop operations since another mining pond belonging to the company collapsed, which led to about 300 people being killed.
Brucutu in the state of Minas Gerais accounts for about eight per cent of Vale's planned annual production of iron ore, and the announcement made the share price take a shot up 2.8 per cent.
Vale has, however, received another negative message this week, when another court decision meant that two other ponds were stopped. On the other hand, another decision has meant that the company can resume the freight operations at the export terminal in the port of Mangaratiba.