Vale to temporarily close Malaysia terminal

Vale_Iron_Ore

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 reportedly 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 company said it does not expect the decision to affect full-year 2020 production and sales.

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