Vale SA Mining News

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.

This is how BHP plans to be the world’s lowest-cost iron ore miner

CEO Andrew Mackenzie announced the firm would cut capital and exploration expenditure to $9 billion in the 2016 financial year from $12.6 billion in 2015.

It’s war! Fortescue boss calls Australians to oppose BHP, Rio iron ore plans

Forrest is blaming BHP and Rio for a fall in the price of iron ore as the pair continue to ramp up production.

BSGR ordered to hand over Simandou-related documents to UK anti-corruption body

The UK High Court ruling is the latest setback BSG Resources, which is fighting on multiple legal fronts over the alleged corruption case.

Vale falls victim of the iron ore slump, posts $3.2bn loss

Today's results are the lowest earnings Vale has reported in six years and its third straight quarterly loss.

It’s official: Zambia scales back mining royalties to 9%

The announced changes will be effective on July 1, once parliament has approved them.

Mick Davis first deal to land in Canada: report

Davis is said to be finalizing talks with a Toronto-listed miner, in a deal that could kick-off a long awaited buying spree.

Zambia goes after First Quantum over layoffs

Government claims it was not notified according to the law.