By Luciana Magalhaes
SAO PAULO--Brazilian mining company Vale SA (VALE, VALE5.BR) confirmed Thursday that it presented to its shareholders a proposal for an agreement on royalties owed to Brazil's regulatory agency for mining, or DNPM, according to Brazil's newswire Agencia Estado.
Analysts and DNPM sources have recently estimated the value of back royalties owed to DNPM at 4 billion Brazilian reais ($2 billion).
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