ArcelorMittal’s Brazilian division is resuming operations of an iron mine rented to mining company Vale in 2004. Vale paid USD 10 million and made all royalty mineral payments as of 2008 to rent the 1.4 million tn/yr mine from Belgo Mineira, a company that later became part of ArcelorMittal. Vale in 2004, during a slump in iron prices, took over operations of the mine and expected to run it for the remainder of its useful life, using the production to supply local steel mills. Since November, ArcelorMittal Brazil has been slowly resuming control of the mine in the state of Minas Gerais.