BHP-Vale Brazil Mine Said to Weigh Missing Next Bond Coupon
- Mine yet to engage in formal restructuring talks: sources
- Uncertainty over mine restart said to be delaying debt talks
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Samarco Mineracao SA is considering skipping bond coupon payments that are due as soon as this month as the stalled Brazilian iron-ore miner runs out of money, according to people with knowledge of the matter.
Without knowing when it can restart mining, the venture owned by BHP Billiton Ltd. and Vale SA is yet to engage in formal restructuring talks with bondholders, two of the people said, asking not to be named because the matter is private. As a result, there’s not enough time to reach a restructuring deal before the coupons are due, they said.