May 23, 2013
Labour Ministry issues mandatory conciliation over Vale conflict
Labour Minister Carlos Tomada announced during a press conference that it has issued a mandatory conciliation over Brazilian mining giant Vale.
The conciliation's first part will last until April 11, and bans the Brazilian mining company from firing its employees and return their jobs to those who have already been fired.
Planning Minister Julio De Vido also assured that the company did not fulfil the Mining Investment Law, which grants benefits that will not be able to be given once the project is suspended.
Vale reported on Monday that it had suspended the US$5.9 billion Río Colorado potash project in Mendoza province.
The mining, main producer of iron, had halted the work on the project back in December, awaiting tax breaks for the project to help to compensate for soaring costs related to inflation and exchange rates.