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Vale ordered to close another mine in Brazil

The dam disaster at Vale's mining operations in Minas Gerais in Brazil at the end of January has led to the suspension of about 70m tonnes of iron ore output per year. Now another mine has been ordered to halt operations, which is a bearish sign for the capesize market

Vale has been ordered to halt operations at the Timbopeba mine in the Minas Gerais region, with an expected loss of production of 12.8m tonnes of iron ore per year

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