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Brazilian miner Vale to suspend Sudbury ops after failed labor talks


By Reuters Staff
2 Min Read
SAO PAULO (Reuters) - Brazilian miner Vale said in a securities filing on Tuesday it will suspend operations at its Sudbury, Canada nickel mine, after its proposal for a five-year contract was rejected by the United Steelworkers union.
United Steelworkers Local 6500, which represents 2,600 workers at the mine, said in a statement that 70% of those who voted were opposed to the Vale offer and wanted the union - whose bargaining committee had recommended the preliminary deal - to return to the bargaining table.
“What we have is a clear message from our membership that our bargaining team . has taken back to the company,” said Kevin Boyd, vice president at USW Local 6500, adding that talks are ongoing. ....

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Vale Could Be Bought on a Test of the 50-day Moving Average Line


Vale Could Be Bought on a Test of the 50-day Moving Average Line
Let s review the charts and indicators.
Stocks quotes in this article:
VALE,
CLF
During the
Mad Money  Lightning Round Monday evening, one caller asked Jim Cramer about Vale S.A. (VALE) : I think this is a multi-year move, but I do like Cleveland-Cliffs (CLF) more, replied Cramer.
Vale is the world s largest producer of iron ore, pellets and nickel. We looked at CLF on May 6 and wrote that CLF continues to move up nicely and with the trade at $21 we can suggest raising the sell stop to $16.50 from $15.00. The new Point and Figure charts give us new targets of $25 and $33. Stay long. ....

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