Brazil's national development bank approves 3.88B reais ($1.9B) in financing for Vale (VALE...

|About: Vale S.A. (VALE)|By:, SA News Editor

Brazil's national development bank approves 3.88B reais ($1.9B) in financing for Vale (VALE -3.6%) to expand its transport infrastructure in the Brazil states of Maranhao and Para, where the company's massive Carajas iron ore mine is located. But investors are unmoved, sending shares lower as iron ore prices tumble on slower Chinese economic growth.