Vale to use cash flow to pay dividends, reduce debt – CEO

Brazil's Vale, the world's top iron-ore producer, will use cash flow, which could reach $14-billion or $15-billion this year, to cut debt and pay dividends, CEO Fabio Schvartsman said on Monday. Speaking at an event in Rio de Janeiro, Schvartsman said the miner tended to generate $14-billion or $15-billion in cash in good or normal years, adding that 2017 was normal.