Perhaps VALE's fixed price contracts with Japan have a clause allowing Japan to buy from closer Australia? Is Brazil holding VALE back or is VALE assigning its business to his nephew's mining business to jump start his business, not to avoid Brazil's bite into Vale profits? Is the VALE president's problems a distraction from other real issues. Vale has a lot of expenses to new projects to cover, sophisticated marketing construction of Brazil infrastructures, but has cash, contracts, and delivery....so what's up with VALE's interest in its shareholders?
Vale has been disappointing but not for my analysis that management is great to build a great opportunity for VALE's long term growth in the EM.
The VAIL JAPAN links are confusing possibly, but I understand that its stable for Japan's processing. Does anybody have good information?