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)