Vale Says Billionaire's 'Publicity Stunt' Distraction From Fraud

Law360 (June 26, 2020, 4:41 PM EDT) -- Vale SA told a Manhattan federal court Friday that Israeli billionaire Beny Steinmetz's attempt to open a new front in the battle over a soured Guinean mining project is a "transparent publicity stunt" crafted to divert attention away from his alleged fraudulent behavior.

The mining giant urged the court to reject Steinmetz's bid for a court order forcing Vale and Rio Tinto PLC, the former owner of the Guinean mining rights, to turn over information he intends to use to support his defense in the U.K. proceedings. Vale told the court not only should it reject the bid due to lack of...

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