Vale, Brazil fail to reach deal for railway concessions renegotiation
Railroad transporting iron ore from Vale’s Carajás complex in Brazil. Image courtesy of Vale.
Vale said on Thursday that it has not reached a consensus with the Brazilian government and local land transport agency ANTT for the renegotiation of two railway concession contracts within a previously established deadline.
In a securities filing, Vale said the contracts for the Carajas and Vitoria-a-Minas railway concessions, which in 2020 had been extended until 2057, remain in effect.
(By Andre Romani; Editing by Leslie Adler)
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