Vale to prepay $179 million to suppliers
Ponta da Madeira iron ore terminal. (Image courtesy of Vale SA)
Vale (NYSE: VALE) will prepay 932 million reais ($179.5 million) to roughly 3,000 small suppliers by the end of April, in a move to help ease the economic impact on them from the coronavirus outbreak.
The company said it has already disbursed nearly half of this amount in the last two weeks.
($1 = 5.1930 reais)
(By Marta Nogueira and Carolina Mandl)
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