Vale Railway to Biggest Iron-Ore Mine Shut on Derailment
Vale SA (VALE5), the third-largest mining company, said the railroad that links the world’s biggest iron- ore mine with a port terminal in northeastern Brazil was shut after a partial derailment.
The incident, involving 11 of the train’s 30 cars, occurred at about 3:47 a.m. local time at the Buriticupu municipality in Maranhao state, the Rio de Janeiro-based company said in an e- mailed statement today. The train was carrying diesel fuel and Vale said it took measures to avoid environmental risks after fuel leaked.
The 892-kilometer (554-mile) railway connects Vale’s Carajas iron-ore mine with Maranhao’s Ponta da Madeira port. Carajas produced 106.8 million metric tons of iron ore last year, about 33 percent of the company’s total output, Vale said Feb. 1.
The company ships manganese, copper and coal on the railway, which also is used by a passenger train, according to the company’s website. Vale dropped 3 percent to 35.45 reais at 1:49 p.m. in Sao Paulo.
BHP Billiton Ltd. (BHP) and Rio Tinto Group are the two largest mining companies.
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