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British court authorizes enforcement of arbitration award to Vale against BSG Resources

Reuters - UK Focus
Updated

SAO PAULO, Sept 24 (Reuters) - Brazilian miner Vale SA said in a securities filing on Tuesday that a British court authorized the company to enforce the $2 billion arbitration award it won against BSG Resources.

Vale said it will continue to try to receive the $2 billion awarded in April. Vale is suing BSG Resources in New York and England in relation to corruption charges surrounding an iron ore mine in Guinea. (Reporting by Tatiana Bautzer Editing by Leslie Adler)