Brazil court says could annul Vale acquisition of Ferrous Resources

SAO PAULO (Reuters) – A federal court in Brazil said it could annul Vale SA’s acquisition of midsize iron ore miner Ferrous Resources until certain environmental compliance documents have been provided, giving the company 30 days to do so, according to a decision seen by Reuters on Wednesday.

Vale said in August that it had to temporarily halt operations at the Viga concentration plant of its newly-acquired Ferrous Resources do Brasil due to “inconsistency in the documents.” Vale representatives were not immediately available for comment.

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