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Saturday, January 14, 2012

Mr Martins estimates at least 10 ships wait for Vale Production

Saturday, 14 Jan 2012

Bloomberg cited Mr Jose Carlos Martins Vale head of ferrous and strategy as saying that Vale SA estimates at least 10 ships are waiting for its output which is backlogged because of heavy rain in three Brazilian states.

Vale, the world largest producer of iron-ore declared a force majeure on iron-ore shipments because of the rain.

(Sourced from Bloomberg)

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