Pellet producer Samarco files for bankruptcy protection

Brazilian iron ore pellet producer Samarco, a 50:50 joint venture between Vale and BHP, on Friday April 9 filed a petition for bankruptcy protection under a Brazilian court as a "last resort" to restructure its liabilities, both parent companies said.

Samarco filed the petition in a commercial court in Brazil's southeastern Minas Gerais state.
If the petition is accepted by the presiding judge, actions and executions brought by Samarco's creditors in Brazil are temporarily suspended, and Samarco has up to 60 days to present a restructuring plan for its debts and other obligations, according to Vale.

In addition, Samarco will apply for recognition of the...

Market sees gold sector nearing full value overall after target upgrades

Gold stocks gain even as metal pulls back

Gold stocks rocket to new highs, valuations no longer inexpensive

Tariff issue caused by potential definition change of traded gold bars

US BLS head removed after revisions to employment data