- Vale (VALE -1.1%) says Brazil's government has granted it a 10-year license to operate a 63-mile branch line connecting its S11D iron ore mine project in the Amazon jungle to the Carajas Railway.
- The branch will allow Vale to haul iron ore from the $14.3B project to the Port of Ponta da Madeira to ships that will load the product for export.
- S11D is expected to start operations this year and will have a capacity of 90M metric tons/year, or more than 25% of Vale's 2015 iron ore output.