Vale denies iron ore streaming financing deal in the works

miércoles 10 de agosto de 2016 17:34 GYT
 

SAO PAULO Aug 10 (Reuters) - 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. (Reporting by Guillermo Parra-Bernal; Editing by Jonathan Oatis)