Board of Brazil's Vale approves extension of railways agreements
2020-12-18 11:12:04 [Print]
Brazilian miner Vale SA said its board has approved a 30-year extension of concession agreements with Estrada de Ferro Carajas and Estrada de Ferro Vitoria a Minas, according to a securities filing on Wednesday.
Vale said that under new terms, it will commit to invest 24.7 billion reais ($4.87 billion) by 2057. "The early extensions remove a great deal of uncertainty about the continuity of a relevant part of our integrated logistics chain," said CEO Eduardo Bartolomeo.
Vale said that under new terms, it will commit to invest 24.7 billion reais ($4.87 billion) by 2057. "The early extensions remove a great deal of uncertainty about the continuity of a relevant part of our integrated logistics chain," said CEO Eduardo Bartolomeo.
