Brazilian Deluge Halts Giant Iron Mines, Triggers Dam Concerns
- The region represents 40% of Vale’s iron ore production
- Iron ore futures in Singapore advance almost 3% on Tuesday
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Heavy rainfall is disrupting southeastern Brazil’s giant iron ore industry, with the world’s No. 2 producer Vale SA among companies to halt operations and regulators dispatched to monitor any impact on tailings dams.
Vale partially suspended services on the Estrada de Ferro Vitoria a Minas railway as well as production at its southeastern and southern systems “to guarantee the safety of its employees and communities,” the Rio de Janeiro-based supplier said in a statement Monday.