Today in metals, a judge has frozen the Brazilian assets of mining giants BHP Billiton and Vale SA and a frontrunner has emerged in the sale of Tata Steel’s UK operations
Tata Steel UK Has a Suitor
Investment firm Greybull Capital has emerged as a favorite to buy Tata Steel‘s struggling UK-based unit, in a move that could offer some relief to Britain’s troubled steel sector, Reuters reports.
Judge Freezes BHP, Vale Mining Assets
A judge in Brazil’s state of Minas Gerais has frozen the Brazilian assets of mining giants BHP Billiton and Vale SA after determining their joint venture, Samarco, was unable to pay for damages caused by a burst dam at its mine last month. In a ruling issued late on Friday, the judge ruled that Vale and BHP could be held responsible for the disaster at the iron ore mine in the state of Minas Gerais, for which the government is demanding 20 billion reais ($5 billion).