Brazil's Vale says to slash debt to $10bn by 2019

Brazilian miner Vale will likely reduce its $21-billion debt load to $10-billion by 2019, and will dedicate cash flow from then on to paying out dividends, the CFO of the world's top iron-ore producer said on Friday. "The message is very clear here, which is that beyond the achievement of the $10-billion target we're going to distribute everything as dividends," Luciano Siani Pires said at an investor event in London.