Brazilian mining giant, Vale, has lifted force majeure on a number of its coal sales contracts in Mozambique. The company had declared force majeure in mid-February following heavy rainfall in Tete, Mozambique, which created serious challenges to the Linha do Sena railway, thus impacting shipments of metallurgical coal at approximately 500,000 t.
Continuing the run of gloomy results in the mining sector, Brazilian mining giant Vale has posted a quarterly loss in Q4 2012 after writedowns of US$ 5.66 billion.