A Brazilian court has authorized Vale to resume operations at the Brucutu mine, its largest in the state of Minas Gerais.
Brazil Mining News
Vale's situation could force other steelmakers to halt production if nothing is done to normalize supplies.
The Chapada copper-gold mine, in the northwest Brazilian state of Goiás, began production in 2007 and is expected to churn out about 54,500 tonnes of the red metal and 100,000 ounces of the precious one this year.
President Jair Bolsonaro said on Friday the country could open a vast reserve in the Amazon rainforest to mining, a move attempted by his predecessor that was quickly rescinded following an international environmental outcry.
It is unclear how long the dams' suspension will last.
The Brazilian mine dam collapses and resultant forced shutdown of some of that country’s iron ore mines had caused a major seaborne supply squeeze across all of the commodity’s types.
Vale SA has opened negotiations with prosecutors and families of victims of the deadly January dam disaster.
Iron ore’s poised to hit $100 a ton, according to Citigroup, which highlighted “very, very low” seaborne cargoes just as data from China may show a pick-up in demand.
Giant mines currently under construction will churn out an additional one million tonnes of copper through 2023, but that won’t be enough.
A group of minority shareholders in Vale SA has proposed an alternative board member and to change the board election to a cumulative voting system.
The move is aimed at providing a tool for institutional investors to assess the risk from their holdings in mining companies.
The Japanese trading house is backing Sigma's Grota do Cirilo hard rock lithium project, in the south-eastern province of Minas Gerais.
A mix of political populism, higher commodity prices and the expectation electrification will spur demand for raw materials has led governments to change the rules for miners operating in their countries.
With a market facing a global deficit, the world’s biggest iron ore export port is flagging a timely boost in shipments as Fortescue and rivals bring on new mines in Australia’s Pilbara region.
German auditing firm TÜV SÜD AG has appointed a former Petroleo Brasileiro SA executive to head up its Brazilian subsidiary.
Iron ore prices in China reached a record high on Tuesday as market participants wrestled two dilemmas, namely the weather-related disruptions from Australia and the safety outages in Brazil.
Commodities had their best quarter in almost three years, but demand outlook is running into troubling signs in the U.S. and China, the two biggest consumers.
The decision comes on the same day a Brazilian court froze an additional 1 billion reais ($255 million) in assets as possible compensation for damages related to a recent evacuation of the area around the company's Vargem Grande dam in Minas Gerais state.
Profits are being squeezed by rising raw material prices, largely caused by production disruptions at Vale SA after the Brumardinho disaster.
According to a securities filing on Thursday night, three board members will be independent and nine will be appointed by controlling shareholders.
Vale SA estimates selling up to 75 million tonnes less iron ore this year, after several mines were halted following its second deadly dam burst in less than four years.
Vale posted fourth-quarter profit of $3.786 billion, compared with $771 million a year earlier.
Currently there are no set of universal rules defining exactly what a tailings dam is, how to build one and how to care for it after it is decommissioned.
The refinery, the world's biggest, has been operating at half capacity since early 2018, when Hydro admitted it had made unlicensed emissions of untreated water.
For all of 2018, Vale's output was 384.639 million tonnes, slightly below its previously divulged outlook of 390 million tonnes.