 "iron ore")
Brazilian mining company Vale SA has dropped a $1.2 billion claim against individuals and entities linked to Israeli-born billionaire Beny Steinmetz, the miner said in a statement on Monday.
Vale and Steinmetz have been locked in a multi-pronged legal battle for years resulting from a failed mining joint venture in Guinea. At the heart of the dispute is whether Steinmetz's mining group, BSGR, obtained the rights to the Simandou iron ore deposit in that nation by fraudulent means, charges which Steinmetz has denied.
In the statement, Vale said the decision to drop the case was based on purely technical grounds and that
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