Vale denies iron ore streaming financing deal in the works - The Official Website of China Metallurgical News

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Vale denies iron ore streaming financing deal in the works

Release time: 2016/08/11 10:54:00 Author:

Aug 10 Vale SA, the world's largest producer of iron ore, denied it plans to raise cash from the sale of future iron ore output through a so-called streaming financing transaction.

Rio de Janeiro-based Vale told the securities industry watchdog in a filing that the information regarding the streaming financing deal was "not true." Reuters reported on Aug. 3 that Vale expected to raise up to $10 billion from the sale of about 3 percent of future iron ore output to undisclosed Chinese companies.

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