Vale has faced growing pressure to prove that its remaining dams are safe.
Brazil Mining News
The world’s iron ore producer has faced continued backlash from Brazilian authorities since the deadly mining dam accident that killed around 300 people in January.
Brazil is preparing legislation that would clear the way for both private and foreign investment in prospecting and mining for uranium in the country.
Brazilian prosecutors requested that mining company Vale SA be ordered to guarantee the funds.
Brazil's government wants Congress to reconsider a decades-old proposal to allow mining in indigenous reserves, which occupy 13% of the country's territory.
Vale did not identify the executives or say what relation they had with the operation in Brumadinho, where the Jan. 25 disaster occurred.
Brazil’s new right-wing government is going ahead with announced changes to current mining regulations, which include a controversial plan to open up indigenous reserves to mining.
The Vancouver-based company now owns the Tucano mine, considered the second largest gold producer in Brazil.
Research by the Massachusetts Institute of Technology (MIT) projected that tin could be the metal with the most to gain.
The world's largest iron ore miner plays an important role in Brazil's economic development.
The allegations were contained in a document given to Vale recommending the immediate “temporary removal” of top executives.
"Being part of the old Brazil, the land of impunity, doesn't work anymore."
The company described the move as 'temporary.'
Vale will be on the hook for about $7.2 billion should Brazil’s government fine the company 20% of annual revenue.
The company has started an investigation.
The company and its workers are under investigation for criminal responsibility for "qualified homicides."
“The outlook for all ratings is negative.”
The International Council on Mining and Metals (ICMM), a London-based industry group representing 27 companies, is setting an independent panel of experts to develope a global standard for tailings facilities to be enforced to its members.
Wood Mackenzie says close to 8 million tonnes of seaborne supply from Brazil is at risk in 2019.
No degree of financial performance is worth a life.
The decision was made in light of a possible failure of five dams at both complexes, which are located in Minas Gerais, the same state where the Feijão mine dam collapsed last month.
The government deployed agents from the police and armed forces to La Pampa in the Madre de Dios region to begin closing down mine operations.
Iron ore continues to influence the ferrous complex, steel prices reflect the rising cost of iron ore and producers are passing it on to the consumers.
The final effect on seaborne volumes is yet to be seen, but it is likely that an expected increase in exports from Brazil for 2019 will instead be a small contraction.
'We don’t see the case for any major investment in iron ore' - Mackenzie