Vale reaches $1.8 bln agreement with Brazil authorities over railway concessions-March 2024-www.financetom.com

Vale reaches $1.8 bln agreement with Brazil authorities over railway concessions

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Vale reaches $1.8 bln agreement with Brazil authorities over railway concessions

Dec 30, 2024 1:53 PM

SAO PAULO, Dec 30 (Reuters) - Brazilian miner Vale

said on Monday it reached an agreement with local

authorities under which it would pay up to 11 billion reais

($1.78 billion) to renegotiate the contracts of two railway

concessions, the firm said in a securities filing.

The Brazilian government has been aiming to remove discounts

given to rail companies by the previous administration when they

received an early renewal of their contracts.

($1 = 6.1778 reais)

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