Heavy rains stall more iron ore mines in Brazil

At least five major iron ore miners suspended operations in southeast Brazil because of torrential rainfall that is causing flooding and reviving concerns over tailing dam breaches.

Vale, Brazil's largest iron ore miner, informed the market that it had partially suspended mining operations in its southern system of mines in Minas Gerais state to ensure public safety following relentless rains over the past days.

Samarco, Vale's iron ore joint venture with BHP, also said it had suspended operations because of the rains. The venture suffered a devastating dam breach in 2015 that killed 19 and caused widespread environmental and economic devastation.

Brazilian steelmakers Usiminas, CSN and Gerdau shut down their respective iron ore mines in the region as well this week.

The Casa de Pedra mine in Minas Gerais suspended operations, but expects operations to resume in the coming days once weather clears, according to a CSN regulatory statement.

Gerdau said it continues to supply its clients normally and expects to resume operations in coming days.

A Minas Gerais court ordered operations at the Pau Branco iron ore mine of France's Vallourec to shut down after rains caused water from its containment dam to overflow onto a nearby highway.

The recent rains have already resulted in 19 deaths in Minas Gerais and the evacuation of more than 17,000 people in the state. The civil defense coordinator of Minas declared a state of emergency for 145 municipalities because of flooding.

Analysts from BTG Pactual bank estimate that the mines in the state that have suspended operations have an annual iron ore output of 100mn metric tons.