Vale SA Mining News

Vale swings back into the black on soaring iron ore prices

The world's No.1 iron-ore producer recorded a net profit of $3.98 billion in 2016, a significant recovery from a loss of $12.13 billion it reported a year earlier.

Vale’s iron ore output just hit another record

The world’s No.1 iron ore miner produced 349 million tonnes of the steelmaking ingredient in 2016, helped partly by the opening of its massive S11D mine.

Vale resumes sale of remaining fertilizer assets in Brazil

A reworked sale process for plants located in the southeastern city of Cubatão was reportedly launched in recent days.

First shipment of iron ore from Vale’s new S11D mine en route to Asia

The company has loaded 26,500 tonnes of iron ore onto three ships at the company's port of Ponta de Madeira.

BSGR boss house arrest ends with no charges over Guinea bribery claims

The Israeli billionaire, under house arrest since Dec. 19, has been at the centre of an international investigation into alleged bribery to win mining rights in Guinea.

Vale not giving up on Rio Colorado potash project just yet

Instead, the company is moving forward with a new prefeasibility study for the Argentina-based asset.

BSGR boss Beny Steinmetz arrested in Israel over Guinea bribery case

The billionaire and other Israeli businessmen are suspected of paying tens of millions of dollars to senior state officials to secure a licence for Simandou, local police said.

Vale opens largest iron ore mine in its history

Commercial production starts in January, with a ramp-up to 90 million tonnes per annum by 2020

BSGR to file multi-billion lawsuit against Rio over Simandou

BSGR will sue Rio Tinto in the English High Court to recover losses allegedly caused by Rio's actions, which run to several billions of dollars.

Vale may reconsider selling $10 billion in core assets — report

If prices for the commodities it mines continue to pick up, the firm must cancel plans to sell some of its best assets.

Mick Davies' X2 Resources fails to deliver, frees investors from commitments

Launched three years ago with a $5.6bn war chest, the fund once hailed as leader of a new wave of mining investment changes course.

Here’s what 50 million extra tonnes of iron ore will do to prices

Prices for the steel-making ingredient are down by 9.8% over a month ago and most of the massive projects expected to come on stream this year are not producing at full steam yet.

Brazil grants Vale license for S11D iron ore mine rail branch

The world's largest iron ore exporter will be able to haul S11D's output to the Port of Ponta da Madeira in Sao Luis.

Iron ore’s rally has its days numbered — Citi

Citi analysts believe the steel-making ingredient will average $51 a tonne in the final quarter of 2016 and fall to $45 next year.

Iron ore price soars past $61 per tonne to fresh 3-month high

Iron ore’s resilience in recent months has defied many analysts’ forecasts, as Beijing’s stimulus plans, restocking by Chinese steel mills and historically low port stockpiles have supported prices.

Iron ore breaks the $60 per tonne barrier, extending week’s rally to 9%

With this jump, the commodity's gains are close to 9% for the week and almost 40% so far this year.

Vale iron ore output falls in second quarter but still beats estimates

It produced 86.82 million tonnes of iron ore in the April-to-June period, down 2.8% from a year earlier.

Mick Davis to overhaul X2 Resources as fund fails to close any mining deal

Recovering commodity prices and investors' veto on deals have frustrated Davis and his team in their search for mining and metals bargains.

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.