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Court Rules Vale Can Reopen Brazilian Port -- For Now
01/26/2016 - Last week, a Brazilian court ordered that iron ore exporter Vale SA close its Tubarao port, one of the world’s most important iron ore import-export terminals.
The reason – dust blowing from stockpiles was said to have been befouling the water and nearby beaches.
Vale, however, has won reprieve from that order – it will have 60 days to explain how it intends to fix the problem, according to the Reuters news service.
Vale confirmed the ruling and said the closure prevented it from shipping 200,000 metric tons of ore per day to points elsewhere in the world. It also stopped coal imports of 44,000 metric tons per day, the company said.
“This coal supplies a large share of Brazil’s steel industry,” the company said in a statement.
The closure was imposed on 21 January, and from that point, the company had about four days before it would have been at risk of closing mines in the state of Minas Gerais, Reuters said.
Vale, however, has won reprieve from that order – it will have 60 days to explain how it intends to fix the problem, according to the Reuters news service.
Vale confirmed the ruling and said the closure prevented it from shipping 200,000 metric tons of ore per day to points elsewhere in the world. It also stopped coal imports of 44,000 metric tons per day, the company said.
“This coal supplies a large share of Brazil’s steel industry,” the company said in a statement.
The closure was imposed on 21 January, and from that point, the company had about four days before it would have been at risk of closing mines in the state of Minas Gerais, Reuters said.
