Brazil Mine Giant Vale Fined In Antitrust Dispute

Law360, New York (January 10, 2008, 12:00 AM EST) -- Iron ore producer and exporter Vale has reportedly been hit with a fine of 33.6 million Brazilian reals ($19.1 million) for disputing conditions that antitrust regulators issued in 2005.

Vale said it would appeal any fine in court, though it had not received notice of the fine, the Associated Press reported. The company said it had "exercised its constitutional right to seek the judiciary" in challenging the antitrust regulators' conditions.

The company, based in Brazil, is the second-largest diversified metals and mining company in the world,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.