The largest shareholder of Tamsui River Valley pushes for a meeting to request the removal of the chairman.

Brazilian mining giant, one of the world's largest iron ore producers, Vale, announced on Thursday that it has received a request from its largest shareholder, Previ pension fund, to convene a shareholders' meeting to vote on the removal of chairman Daniel Andre Stieler. According to a regulatory filing by the mining company, Previ has proposed the appointment of Jose Mauricio Coelho to the Vale board and supports current board member Manuel Oliveira to become chairman. Previ is the pension fund management institution for employees of the state-owned Brazilian bank Banco do Brasil. Vale stated that Previ believes Oliveira will help "strengthen corporate governance practices, improve strategic management, and better align the company with the interests of shareholders and stakeholders." The mining company did not disclose any documents received from Previ. Vale stated that its board of directors is evaluating the procedural steps necessary to convene the shareholders' meeting.