Brazil Mining News

Vale says alarms didn’t go off on time in Brumadinho due to 'speed' of sludge

The argument is being harshly criticized by experts and locals, who believe the law-enforced audible could have saved lives.

Moody’s weighs in on Vale dam disaster

The financial penalties related to the dam collapse may prove even larger than those for Samarco.

Fortescue says Vale impact uncertain, sees demand for mid-grade iron ore

The loss of about 40 million tonnes of annual supply is expected to boost demand for Australian ore.

Brazilian prosecutors freeze over $219m of Vale’s assets

Funds expected to be used as compensation for the victims of last week’s tailing burst, which killed at least 99 people.

Glencore nears $500m deal to buy iron ore from Brazil's CSN – sources

CSN is aiming to reduce debts that piled up after an iron ore and steel price rout in 2015-2016 and a severe recession in Brazil, prompting investors to demand asset sales.

Vale postpones release of earnings report due to dam disaster

Vale said it plans to release its fourth quarter earnings report on March 27 rather than Feb. 13 as originally planned.

Iron ore prices are flying

Vale production cuts could have "outsized" impact in shorter term with spot prices predicted to return to $100-plus per tonne in summer.

UN calls for probe into Vale’s tailings as waste heads to Brazilian river system

Brazilian authorities and companies involved with river water management are trying to stop the torrent of mining waste from reaching the Sao Francisco river, a source of drinking water for communities in five of the country's 26 states.

Death toll from Brazil dam burst rises to 84, with 276 unaccounted for

48 people have been identified so far, as work continues in the area.

Vale to end use and dismantle all upstream dams after disaster — CEO

Chief Executive Fabio Schvartsman said Vale would halt operations using those dams and spend 5 billion reais ($1.3 billion) to decommission them.

Brazil mine disaster prompts Bolsonaro rethink on environment

Bolsonaro and his cabinet are swiftly dialing back promises of deregulation.

Vale eyed dam design changes in 2009 that may have prevented disaster

The International Coalition of Large Dams (ICOLD) group "is recommending that dams, especially large dams, be built by dam professionals.

Five Vale staff and contractors arrested after Brazil dam disaster

Two other engineers, who worked for Germany’s TUEV SUED on a contract where they attested to the safety of the Vale dam, were arrested in Sao Paulo.

Samarco unveils restructuring talks as Vale spill hits bonds

"Negotiations may or may not continue," the company said in statement.

Germany's TUEV SUED says two of its employees have been arrested in Brazil

On Saturday TUEV SUED told Reuters it had not found the dam to be damaged when it was inspected last September.

Vale's management team on thin ice as spill fallout snowballs

“Before pointing out fingers we need to see what happened first”

Vale stock plunges after Brazil disaster; $19B in market cap erased

"The fact is that Vale's share drop was even steeper than some market participants expected"

Chinese iron ore traders face uncertainty after Vale's Brazilian mine disaster

"We're worried that the mine accident might lead to higher premiums on low-aluminium iron ore"

Brazil securities regulator probes Vale’s filings on dam collapse

By Monday, local officials had confirmed at least 60 people dead and said they fear that among the hundreds who are still missing there will be very few survivors.

Investors ask how Vale failed to stop repeat of dam disaster 

“How can they let this happen again?” Melo said. “They wiped out our city.”

Vale analysts see charges, lawsuits, halts undermining stock

Vale plunged as much as 20 percent in Sao Paulo on Monday, the biggest intraday drop since October 2008.

Vale dam collapse: Panic after fresh alert at another mine in Brumadinho

An alarm warning of an imminent mining dam rupture was issued on Sunday morning near Brumadinho, the same Brazilian community where the collapse of Vale's dam on Friday killed at least 58 and left over 400 more feared dead.

Vale's tailings dam bursts after end-year rebound in iron ore prices

As early as next week, iron ore prices may start to reflect the impacts of Vale's dam bursting at Corrego de Feijao in Brumadinho.

Hundreds still missing following Vale's dam break in Brazil

Nine bodies had been recovered by Saturday morning.

Orinoco Gold and AngloGold Ashanti start working on JV in Brazil

The announcement was made after both companies confirmed the original terms of an earn-in agreement they signed back in 2017.