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Vale leads gains

The world’s largest iron ore miner Vale SA (BZ:VALE5) posted the biggest gain for the week among leading global miners by market capitalisation as it outlined plans to diversify.

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Vale's Carajás iron ore mine

Iron ore prices have dropped below US$60 per tonne since concerns emerged over the Chinese economy after Moody downgraded the country’s credit rating last week for the first time since 1989.

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