vale demands $2 billion from bsgr; may vye with niron for guinea iron ore

摘要

Brazil’s Vale said Wednesday that it filed legal action in a New York court to oblige Israeli tycoon Beny Steinmetz’s BSG Resources Ltd (BSGR) to pay Vale more than $2 billion including accrued interests and expenses for costs incurred by the Brazilian miner in recent years in Guinea’s Simandou and Zogota iron ore mine deposits. Vale’s filing Tuesday follows the April 4 decision by a tribunal which is part of the London Court of International Arbitration that the sum should be paid, Vale said in a statement.