Vale (VALE -3%) will set aside an additional 1.1B Brazilian reais (~$542M) to cover potential...

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

Vale (VALE -3%) will set aside an additional 1.1B Brazilian reais (~$542M) to cover potential losses related to a tax and royalty dispute with the government, determining it likely will lose an attempt to deduct the cost of transportation from the value used to determine royalty payments on minerals. Vale had previously set aside 314M reais for the dispute.