Interesting news coming out of Brazil.
I wonder how much supply this will remove. I hear that a Canadian mining with operations in Minas Gerais had a tailing dam leak due to the very strong rains,
https://www.miningweekly.com/article/vale-halts-iron-ore-operations-due-to-heavy-rains-maintains-guidance-2022-01-10
Vale halts iron-ore operations due to heavy rains, maintains guidance10TH JANUARY 2022 – Brazilian miner Vale said on Monday it has partially halted operations at its Southeastern and South iron-ore systems due to heavy rains that are affecting the state of Minas Gerais, but reiterated 2022 production guidance as the Northern system was not affected.Vale said in a securities filing that train circulation at its Vitoria-Minas railway was partially interrupted following the rains, which led output to be halted at the Brucutu mine and the Mariana complex as it was unable to transport iron-ore from these ventures.Both are located at Vale's Southeastern system - as well as the Itabira complex, which was not affected.At the Southern system, Vale said all of its complexes had to halt production as key highways BR-040 and MG-030 were interdicted.Despite the haltings, Vale added that the Northern System is still operating as planned, and it reiterated its 2022 iron ore production guidance at 320-million to 335-million tonnes."Vale is taking all measures needed to resume activities and keeping its focus on the safety of employees and communities," the company said. It did not provide a detailed timeframe for operations to be resumed. 
Iron ore price, page-42543
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