- Vale cuts 1,300 jobs due to ‘grave crisis’

Vale, the world’s biggest producer of iron ore, has cut 1,300 jobs, will put 5,500 staff on paid leave and move another 1,200 into different functions as a result of what it described as a “grave crisis” in the mining industry.

The announcement on Wednesday by the Brazilian company affects almost 13 per cent of its 62,000 workers around the world