Vale will pay $ 1 billion in dividends

Brazilian mining giant Vale will pay an extraordinary dividend of $ 1 billion or U.S. $ 0.1916 per 1 ordinary share. The corresponding decision was taken by the board of directors of the company. It is assumed that the payment will start on January 31 this year. As is known, Vale plans to sell the Indian metallurgical companies coking coal from the mine Moatize in Mozambique. It is assumed that the export of coal from the mine will begin in August 2011. The number of Indian holdings, are interested to buy coking coal from Vale, joined SAIL, JSW Steel and Jindal Steel and Power. Recall that Vale has recently withdrawn its shares on the Hong Kong Stock Exchange. Previously reported that the Vale in September 2010 compared with September 2009 increased export of iron ore at 11.31% to 25.98 million tons. In January-September, the foreign supply of ore Vale was 184.02 million tons, up 12.78% over the previous year. Brazilian company Vale is one of the largest producers of iron ore in the world. In the I quarter of 2010 compared to same period in 2009, the company increased production of iron ore 42.9%, to 69.06 million tons. Ministry of Industry