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

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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