"The Brumadinho disaster shows that favoring profit over safety has been Vale's standard operating procedure."
Vale SA Mining News
Vale SA said it’s temporarily halting some operations at its Brucutu mine, potentially causing a production loss of about 30 million metric tons of iron ore a year
The report by German-based TÜV SÜD made 17 recommendations aimed at improving the stability of the structure and was dated September 2018.
"The fact is that Vale's share drop was even steeper than some market participants expected"
"We're worried that the mine accident might lead to higher premiums on low-aluminium iron ore"
Vale plunged as much as 20 percent in Sao Paulo on Monday, the biggest intraday drop since October 2008.
Don’t listen to what miners say. Look at what they do.
Vale has focused on sales of better quality iron ore, mostly from its S11D project in Pará state, as demand for the cleaner and less polluting product rises in China, its main market.
China’s switch from industrial-led to consumption-led growth seems to be showing up everywhere except the production numbers of iron-ore miners.
CEO Fabio Schvartsman said the company would only invest further in nickel if global prices for the metal rise from $13,000 per tonne currently to around $20,000 per tonne.
Iron shipments fell about 5 percent, hurt by planned maintenance and safety pauses across all operations following a fatality.
Iron ore production at the S11D and Carajás projects grew nearly 20 percent to record 53.9 million tonnes, accounting for most of the increase.
Two major shareholders of Brazilian mining company Vale SA are likely to reach an agreement on Wednesday to pay 2.82 billion reais ($692 million) to Eletron to settle a dispute over Vale shares.
It would resolve shareholder claims stemming from the Nov. 5, 2015 bursting of the Fundão dam in Minas Gerais run by Samarco.
Samarco expects to obtain next year all licenses needed to resume operations suspended after the 2015 environmental disaster.
By value, mineral exports are expected to increase to $30 billion from $28.37 billion last year.
Iron ore output hit 96.755-million tonnes in the three months to June 30, while pellet output reached 12.838-million tonnes, despite a nationwide truck drivers strike that paralyzed the country in May.
The sale of Vale stakes has been a subject of market speculation since the world's largest iron ore miner moved to a single class of stock in October. Mitsui currently holds a 5.51 percent stake in Vale.
Iron ore’s starting to buckle after a series of warnings that prices are set to drop amid rising global supply, and as investors fret about the potential impact of escalating trade tensions between the U.S. and China.
Mine closure is one of the biggest prices the environment pays in the mining enterprise, so coming up with a canopy system to restore the mining-impacted land to its natural condition is of invaluable importance, making Terratec’s innovation a considerable contribution to the field.
The two separate decrees aim at making the local industry more competitive and sustainable, while while implementing rules on the collection of higher mining royalties.
Transiting Voisey's Bay nickel mine from open-pit operations to underground will cost about $2 billion, and is expected to extend its productive life to 2035.
Government and company officials told CBC News that a "significant" mining announcement would take place on Monday.
Michel Temer is expected to issue a decree next week introducing key changes to mining rules that date back to the 1960s.
The information was made public by The Wall Street Journal, whose journalists had access to a procedural order.