The company and its workers are under investigation for criminal responsibility for "qualified homicides."
Brazil Mining News
“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
It’s taken two tragedies in just over three years, but the mining industry is finally starting to clean up its act.
CEO Andrew Mackenzie said it was too early to say what impact the recent Vale tailings dam disaster will have on efforts to restart BHP and Vale's jointly owned Samarco mine, shut since November 2015 after a dam collapse killed 19 people.
All so-called upstream dams need to be decommissioned or removed by August, 2021, according to a resolution the National Mining Agency published on Monday.
The tailings dam at the iron ore mine is inactive so the miner said the evacuation is precautionary.
The majority of material from the Malaysian distribution center is Brazilian Blend fines destined for China.
Operating cash flow reached $790 million in 2018, and cash and equivalents of $349 million, $1.9 billion in liquidity, and no debt maturities until 2021.
The disaster has called into question the willingness of investors and lenders to continue funding the broader industry.
The company said the fire should have a reduced impact on shipments as 10 days of preventive maintenance was already programmed at the terminal.
Brazil's Usinas Siderurgicas de Minas Gerais posted $223.21 million in profit in 2018.
Four people from the German consulting group Tüv Süd, company that certified the safety of Vale’s dams, were also detained.
Yamana Gold’s stock was up 4.65% in after hours trading.
Iron ore supply is expected to tighten after the Vale accident, but actual effects in the Chinese market will not occur until late March.
Our current prediction is for 19 very serious failures between 2018 and 2027.
The authorities had closed the port terminal operated by the miner and fined it 35 million reais ($9.43 million) for throwing mining residues in the sea.
State-development bank BNDES intends to sell shares in the miner, but has yet to find a good moment to do so.