Brazil Mining News

Vale’s iron ore output hit record high in 2017

Output of the steelmaking material reached 366.5 million tonnes last year, boosted by record high productionat Vale's northern system, which composed of its Carajás, Serra Leste and the massive S11D mine.

Kinross secures low-cost power for Brazil’s largest gold mine

With the acquisition of two hydroelectric plants, the miner expects to eliminate about 70% of future power purchases.

Brazilian prosecutors say Anglo’s sale of Amapa iron ore shady

They also claim miner offloaded the asset to avoid paying for environmental damage caused by an accident at its floating dock, which killed six people and dragged vehicles, equipment and large amounts of iron ore into the Amazon River.

Anglo's Brazil iron ore expansion a go

Anglo American's Minas Rio iron ore mine in Minas Gerais state has nameplate capacity of 26.5m tonnes per year.

Canada’s Gahcho Kue diamond mine boosts Anglo American output, but copper flat

The company beat expectations on Thursday with a 5% increase in 2017 production.

Anglo expects expansion licence for Minas Rio in Brazil by Friday

Receiving the necessary licences would allow the company to continue operating in the state of Minas Gerais, where the iron ore mine is located, for at least another 15 years.

Vale confirms talks with BHP over Samarco exit

During a meeting with investors and analysts in Sao Paulo, Vale’s investor relations director, André Figueiredo, said it seemed “natural” for his company to become the sole owner of the project.

Vale closes sale of fertilizer business to Mosaic for $1.4 billion

Brazilian mining giant is retaining control of the TIPLAM port terminal, which was originally included in the deal.

Equinox Gold to start full-scale construction at Brazilian mine

The Canadian miner wants to increase production to 135,000 ounces of gold per year.

Mining in 2018: Copper price to power on

Markets where technology hasn’t substantially shortened the supply cycle and where cost are rising (ie copper) have the greatest long-term upside in prices

Vale to get $1.35 billion less for fertilizer business

The South American miner wants to retain control of the TIPLAM port terminal, which is an asset originally included in the deal.

Trek Mining merges, now trades as Equinox Gold

The new company based in Vancouver will focus on finishing construction of the Aurizona Gold Mine in Brazil.

Value of top 50 mining companies surge $140 billion in 2017

More than half the 2017 combined market cap gains for the world's largest listed miners accrued to just five firms as gold producers drop out of top 10.

Vale workers in Mozambique down tools at Moatize mine over bonus pay

Workers at Vale's Mozambique Moatize coal mine downed tools on Friday in a dispute over bonus payments, paralysing work at the plant.

Report investigates human rights abuse linked to Kinross Gold's Brazilian mine

A report released today documents human rights abuse tied to a Canadian mine in Brazil, a project operated by a subsidiary of Kinross Gold.

Vale aims to halve debt to $10bn by 2019

The company also said is ready to shut Caledonia mine mid-next year if it has not found a strategic partner ready to buy a 20 to 40% stake in the project.

Biggest iron ore miner threatens to flood market if prices surge

Brazil's Vale is prepared to unleash as much as 50 million metric tons of spare capacity to balance the market if prices get too high.

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

"The first thing we are going to do with the cash is pay debt, and then we are going to make this company's shareholders happy as never before," said Chief Executive Officer Fabio Schvartsman.

Brazil new mining regulations pose short-term downside risks: Analysts

Could the lack of a broader mining code overhaul weigh on investor sentiment over the coming months?

Brazil mining code unchanged as Senate fails to vote on bill

Brazil’s lower house of Congress removed from the agenda the discussion of a transitory presidential decree, which modified the country’s current mining law.

Iron ore will go back to $50, says Goldman Sachs

Analyst Hui Shan said that Goldman’s projections see iron ore falling to $60 a ton in three months, $55 in six and $50 in 12.

Brazilian miners up in arms as lawmakers hike iron ore, gold royalties

They claim it won’t be possible to cut costs enough to offset the higher levies, and warn that some miners may need to pass on this new cost increase to the industrial production chain.

Brazil's Congress approves higher mining royalties

Brazil's lower house passed a bill that would boost royalty rates on iron ore by 75%, as both houses voted in a win for President Michel Temer's reform agenda.

BHP, Vale get extension to settle $48 billion Samarco claim

BHP Billiton Ltd and Vale SA have secured a 150-day extension from a Brazilian court to negotiate a settlement of a $48 billion claim stemming from the Samarco mine disaster in 2015, BHP said on […]

Vale says still looking to sell stake in New Caledonia nickel mine

The miner denied it had decided to suspend the sale of a stake in its loss-making New Caledonia nickel mine (VNC), and added that its plan to find a partner is still a go.