Vale to extend $76m credit facility to Samarco

June 29, 2017

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Vale SA intends to extend $76-million in short-term credit facilities to iron-ore miner Samarco Mineração SA, its joint venture with BHP Billiton, which halted operations a year and a half ago after a dam burst. The loan will support Samarco through the second half of the year, Vale said in the filing, adding that the same amount will be extended by its partner BHP. Samarco executives recently said that resuming operations this year will be challenging.

Category: General