Vale SA Mining News

Vale back in the black on higher iron ore prices, currency

Vale’s results for the first three months of 2016 makes it the best-performing major iron-ore miner so far this year.

Vale gives its potash project in Argentina a second chance

The miner has scaled down the project and it now aim to produce 1.3 million tons of potash a year, down from the 4 million tons originally planned.

Vale cuts spending, management salaries

The iron ore and nickel giant has reduced its forecast for capital spending in 2016 to $5.5bn from $6.2bn previously.

Vale says write down of Mozambique coal venture won’t affect project

Company denied reports claiming that partner Mitsui was revising the terms of their association.

Vale posts record loss, to sell core assets

It posted a fourth-quarter net loss of $8.57 billion, its fifth drop in the past six quarters.

Iron ore prices soar to 2016 high

The steelmaking raw material is back in a bull market.

Argentina’s new government scraps mining taxes

President Mauricio Macri has revoked a 5% tax imposed by the previous administration on mining companies.

BHP, Vale have assets frozen over Samarco damages

Two of the largest mining companies in the world are being held to account by the Brazilian government over a massive tailings dam rupture.

Down again: iron ore sinks below $40 a tonne

It hit $39.40 a tonne, the lowest price ever recorded by price assessor The Steel Index (TSI), which began compiling data in 2008.

Vale to slash iron ore output target, but opening world’s largest mine in 2016

The miner is likely to cut its iron ore output target for the year from 376 million tonnes to 355 mt, says independent investment bank BTG Pactual.

Iron ore crisis could be followed by a nickel crisis for BHP Billiton and Vale

The last thing two of the world’s biggest mining companies, BHP Billiton and Vale , need today is speculation that after the disaster at their jointly owned Samarco iron ore mine in Brazil they might also have to close big nickel-mining operations to stem a tide of heavy losses.

Vale iron ore output hits new record

The world’s largest producer of iron ore continues to flood the market with the addition of 88.2 million metric tons in the third quarter of the year.

Argentina’s presidential candidates want mining to be platform for country’s recovery

Argentina’s presidential election, the first to be decided in a second and final round since the constitution was changed in the 1990s, will be key for the country’s economy, particularly its mining sector.

Vale adds to iron ore supply glut — second highest ever quarterly output

The world’s largest iron ore producer continued to flood the market despite a current oversupply that has sent prices for the commodity plummeting to historic lows.

BHP Billiton beats iron ore guidance, takes copper write-downs

The world's No.1 miner will continue boosting its iron ore output, adding to a global glut and keeping pressure on prices.

Zambia mining industry says new rules to scare investors, deter local processing

The Chamber of Mines wants the government to reconsider its decision to hike corporate income tax rate on mineral processing from 30% to 35%, which came in effect July 1.

Vale expects to raise $1.5 bln from asset sale in Brazil

The world's largest producer of iron ore could raise about $1.5 billion through the sale of a stake in one of its Brazil-based assets.

Zambia to slash royalties, reinstate mining tax

The move puts an end to a nearly nine-month standoff that has hit output and profits in Africa’s second largest copper producer.

Zambia sells stake in state-owned copper miner

The country's national pension fund has bought 15.9 million shares of Zambia's Consolidated Copper Mines-Investment Holdings for almost $80 million.

Zambia mulls cutting mining royalties even further

Mines minister Christopher Yaluma said reducing royalties below the recently revised 9% would make underground mining more cost effective.

Vale may sell potash assets in Saskatchewan

As Brazil’s Vale SA figures out what to do with its fertilizer business, the mining giant is thought to be testing the waters on a potential sale, according to people familiar with the matter.

No point in top iron ore miners cutting supply: Goldman

Goldman expects the iron ore "war of attrition" will continue while prices gradually decline toward its $40 per metric ton forecast by 2017.

Fortescue shares skyrocket on Chinese investment rumours

The stock surged over 15% in early trade, closing at A$2.40, or 10.6% up, after reports of Chinese-linked companies seeking permission to invest in the iron ore producer.

Australia ditches iron ore probe after lobby, China-Brazil supply deal

The China-Brazil deal means that in just three years Vale will be producing more than BHP Billiton and Rio Tinto combined.

BHP chief says inquiry into Aussie iron ore market a ‘ridiculous waste’

Andrew Mackenzie also warned the proposed would damage the Australia’s economy and shift investment to main foreign competitor Brazil.