Vale Carajas license removes overhang, says Goldman Vale announced that the Brazilian environmental agency granted the company a license for the Carajas mine to reduce the minimum radius to mine around underground caves categorized as maximum relevance from 250mts to 50mts. Goldman said the license removes a significant overhang and increases confidence in production growth. Shares are Buy rated with a $19.50 price target.
Vale attempt to dismiss Rio Tinto suit rejected, WSJ says Vale's (VALE) attempt to have a lawsuit filed against it by Rio Tinto (RIO) was rejected by U.S. Southern District of New York Judge Richard M. Berman, reports the Wall Street Journal. Judge Berman also rejected Vale's argument that the case should be tried in an English court, the Journal adds. Reference Link