Vale S.A. stock jumps 4%, but Brazil suspends permits at two iron ore units
Vale S.A.’s U.S. shares rebounded 4% to $16.34 midday after halting two Minas Gerais iron ore units due to water overflows that led to permit suspensions. The overflow reached the Maranhao River, causing environmental damage and flooding a CSN site. Vale said only sediment-laden water was released, not tailings. The company reaffirmed its 2026 iron ore guidance and will report Q4 results Feb. 12.