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Bloomberg reported Vale (SAO:VALE5) has extended its royalty payments on iron ore to the Brazilian government by 60 days as negotiations continue.
Bloomberg reported Vale (SAO:VALE5) has extended its royalty payments on iron ore to the Brazilian government by 60 days as negotiations continue.
As quoted in the market news:
Vale and the Brazilian government extended the talks after failing to reach an agreement over the amount of royalties owed by the company, the official at the government body, known as DNPM, said by telephone from Brasilia today. The official couldn’t be identified according to government policy.