Vale says to reduce ore stocks and sell 11 Valemax carriers LONDON Dec 4 Brazil's Vale SA, the world's leading iron ore producer, said on Friday it plans to drastically reduce ore stockpiles in its southern mine system in Minas Gerais state and expects to raise $1.1 billion from the sale of its remaining 11 Valemax very large ore carriers soon. (Reporting by Maytaal Angel and Eric Onstad in London; Writing by Jeb Blount in Rio de Janeiro)
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