Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Brazilian miner Vale said on Tuesday it approved payment of a dividend instalment of 3.1-billion reais ($1.01-billion), easing investor concerns that it might slash the payment in the face of falling iron-ore prices. Vale and other major miners were put on credit watch negative by Standard & Poor's on Monday as the rating agency slashed its iron-ore price estimates for the next couple of years.
Brazilian miner Vale said on Tuesday it approved payment of a dividend instalment of 3.1-billion reais ($1.01-billion), easing investor concerns that it might slash the payment in the face of falling iron-ore prices. Vale and other major miners were put on credit watch negative by Standard & Poor's on Monday as the rating agency slashed its iron-ore price estimates for the next couple of years.
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