Vale says to reduce ore stocks and sell 11 Valemax carriers
By: Reuters | Dec 04 2015 at 09:23 AM | International Trade | Maritime
LONDON - 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.