Brazil's Vale will soon return 30 million tonnes of iron ore to the dry bulk market, signaling good news for bulkers, according to analysts.
The major producer of the commodity on Wednesday received approval from the federal Superior Court of Justice to reopen the mine following its latest closure in early May.
"The above-mentioned decision will enable the full resumption of wet processing operations at Brucutu within 72 hours, thus increasing the average quality of Vale's product portfolio," the company said.
