At a time when Vale (VALE) needs all the good news it can get, its coal unit continues to suffer setbacks, with the latest being its announcement it is cutting its coal export target for 2013 from its Mozambique coal mineby about 30 percent.
This follows in the footsteps of a 2nd disruption at its Sena rail line operations, where on May 12 some potters blocked the line in an effort to extract further compensation for abandoning their homes in order for the mine to be developed. That has been resolved and shipments resumed, but it probably had more of a public relations effect on the company than warranted because of current weak market sentiment.
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