Brazil's Vale Show Shareholders Proposal For Accord With DNPM - Report

Date : 08/23/2012 @ 7:28PM
Source : Dow Jones News
Stock : Vale S.A. American Depositary Shares Each Representing One Common Share (VALE)
Quote : 8.87  0.0 (0.00%) @ 9:08AM

Brazil's Vale Show Shareholders Proposal For Accord With DNPM - Report

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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).

Write to Luciana Magalhaes at luciana.magalhaes@dowjones.com

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