Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
The board of Vale, the world's largest iron-ore producer, on Wednesday approved plans to raise one-billion reais ($287-million) from the sale of debt notes to expand the railway system at the Carajas ore mine. Vale plans to file Thursday a request before securities industry watchdog CVM to approve the sale of the so-called infrastructure notes in two portions, according to a securities filing. The notes will have maturities of five and seven years and could be increased by 350-million reais pending certain conditions, the filing said.
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