12
Apr
08:01
Samarco files for bankruptcy protection
Brazilian iron ore miner and pellet producer Samarco, co-owned by Vale and Australia's BHP Billiton, has filed a petition for bankruptcy protection, Kallanish notes.
In a securities filing, Vale explains the measure is to prevent creditors’ claims from affecting Samarco’s operations.
“Samarco makes the request primarily with the objective of preserving its recent resumption of operations, jobs and compliance with its socioenvironmental oblig…
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