© Reuters. FILE PHOTO: The logo of the Brazilian mining company Vale SA is seen in Brumadinho, Brazil January 29, 2019. REUTERS/Adriano Machado
(Reuters) – Brazilian miner Vale SA (NYSE:) approved a share buyback program of up to 500 million common shares to be carried out over the next 18 months, the company said on Wednesday.
The program represents around 10% of Vale’s outstanding shares. The company also said it was concluding its previous share buyback program, which had repurchased approximately 168 million shares.