Texture from Reuters:
Vale, the world’s largest iron ore miner, said on Friday that Brazilian regulator ANM had allowed it to resume its Alegria mine operations, which were interrupted last March after a “stress test” failed to guarantee its stability. company said the resumption of mining activities at Alegria will allow it to restore 8 million tonnes of 50 million tonnes in capacity lost after the collapse of its Brumadinho dam in January caused a series of shutdowns.
…Benchmark spot 62% iron ore, which slumped to its lowest in more than seven months last week at $85 a tonne, based on SteelHome consultancy data SH-CCN-IRNOR62 , may average $90 this quarter and drop to $70 next year, said Andrew Driscoll, head of resources research at CLSA.
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