Brazil's Vale to halt work at Malaysia terminal, to hurt Q1 iron ore sales

Reuters

Updated 23 March 2020 at 8:04 am·1-min read

RIO DE JANEIRO, March 23 (Reuters) - Brazilian miner Vale SA said on Monday that it would suspend operations at its Teluk Rubiah distribution terminal in Malaysia, which is expected to reduce sales in the first quarter by roughly 500,000 tonnes of iron ore.

The operations will be suspended from Tuesday through March 31 because the company cannot guarantee "minimum resources" to safely operate there, Vale said in a securities filing. The miner said it does not expect the decision to affect full-year 2020 production and sales.

(Reporting by Marta Nogueira; writing by Jake Spring Editing by Chizu Nomiyama)

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