Iron ore price, page-11338

Thanks Hades and agreed Col

Mkt would have been anticipating less of an impact but it seems either it believes ramp up of other mines will not be as great as believed or Brucutu will not come back online as quickly as anticipated.

The CFO of Vale did say earlier this morning it believes Brucutu could get the go ahead in the coming weeks but I don’t think it will be that easy. It was meant to have restarted Sun night but now needs to go through further regulatory hoops to get approval once more.

Yesterday as I mentioned, a couple of dams had their sirens sounded due to high risk of rupture. Another alarm sounded in error at Itabara that put the residents into panic mode. Itabara is one of the larger mining complexes in the state so there may be a cloud over its future too.

All these dams at level 3 risk are going to have regulators err on the side of caution. We have already heard of some alleged shonky safety clearances given prior to the tragedy.

Vale also are finding that they are losing love from decision making authorities. It seemed almost a given a week ago they were going to get concessional status to operate a 1500km freight railway; one of the most important train lines in Brazil but it was actually awarded in the last day to Rumo..

https://www.agriculture.com/markets...uction-to-operate-freight-railway-shares-jump