February 1, 2019 / 7:15 AM / 6 months ago

Japan's JFE says no impact on iron ore procurement after Vale Brazil dam disaster

TOKYO, Feb 1 (Reuters) - JFE Holdings, Japan’s second-biggest steelmaker, has seen no direct impact on its procurement of iron ore in the wake of miner Vale’s catastrophic tailings dam collapse in Brazil, its executive said on Friday.

“We buy about 20 percent of iron ore from Vale, but we have had no direct impact on our procurement of iron ore,” JFE executive vice president Shinichi Okada said, speaking at an earnings news conference.

“But we need to closely watch how the disaster would affect Vale’s overall output and how it will impact on iron ore markets going forward,” Okada said.

With 110 people confirmed dead and another 238 missing, according to firefighters’ count on Thursday evening, the tailings dam collapse in the town of Brumadinho may be Brazil’s deadliest-ever mine disaster. (Reporting by Yuka Obayashi Editing by Kenneth Maxwell)

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