Vale Files US$2 Billion Lawsuit Against Former Partner Over Simandou Project

Another chapter opens in the endless saga surrounding one of the worlds largest untapped iron ore deposit.

By Contributing Reporter

RIO DE JANEIRO, BRAZIL - Brazilian miner Vale said on Wednesday it had filed a lawsuit in the United States to force BSG Resources to pay about US$1.25 billion plus interest and expenses, as mandated by an arbitrator in a dispute over a joint venture in Guinea.

Earlier this month, Vale said an arbitration court in London had ordered BSGR to pay US$1.246 billion. The suit, filed in the U.S. District Court for the Southern District of New York, seeks payment of more than $2 billion when interest and expenses are taken into . . .

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