Brazil's mining chief says Lula never tried to weigh in on Vale succession
Brazilian President Luiz Inacio Lula da Silva has not sought to influence who will be chief executive of major mining company Vale, a senior official said on Friday, after recent reports suggesting otherwise caused the firm's shares to tumble.
Vale, one of the world's largest producers of iron-ore and nickel, was privatised in the 1990s but the government still exerts significant influence as its main shareholders include a pension fund operated by state-run lender Banco do Brasil.