Vale SA Mining News

Vale aims to halve debt to $10bn by 2019

The company also said is ready to shut Caledonia mine mid-next year if it has not found a strategic partner ready to buy a 20 to 40% stake in the project.

Brazil mining code unchanged as Senate fails to vote on bill

Brazil’s lower house of Congress removed from the agenda the discussion of a transitory presidential decree, which modified the country’s current mining law.

Brazilian miners up in arms as lawmakers hike iron ore, gold royalties

They claim it won’t be possible to cut costs enough to offset the higher levies, and warn that some miners may need to pass on this new cost increase to the industrial production chain.

Vale says still looking to sell stake in New Caledonia nickel mine

The miner denied it had decided to suspend the sale of a stake in its loss-making New Caledonia nickel mine (VNC), and added that its plan to find a partner is still a go.

Vale’s iron ore output hits another record

Iron ore production rose 3.3% compared with the same period last year to hit a fresh quarterly record of 95.1 million tonnes.

Vale puts stake in New Caledonian nickel unit up for sale

Move is part of a wider review of low performing assets after new Chief Executive Fabio Schvartsman took charge in June.

Brazil’s president revokes decree allowing mining in Amazon

It would have opened up for mining a vast national reserve in the country’s Amazon, larger than the size of Switzerland.

Brazil's Vale to meet debt target before implementing new growth plans – exec

The company is also interested in investing in the electricity sector itself or through a joint venture.

Brazil judge blocks decree allowing mining in Amazon

Federal judge Rolando Spanholo said opening the area known as Renca to mining can only be done by an act of Congress under the constitution.

Brazil to let mining happen in Amazon area the size of Switzerland

The region, preserved as a national reserve for more than three decades, is thought to be rich in gold, iron ore, copper and other minerals.

Changes to Brazil mining law to bring mostly higher taxes, costs — experts

Experts and mining companies fear some of the modifications that go in effect in November, will result in hefty taxes, higher research costs and decrease interest from foreign investors.

Argentina passes mining act expected to create 125,000 new jobs

Agreement is part of plan to double investment in the sector to $25bn in eight years.

BSGR may have to pay $1.2bn for no show at Simandou-related hearing

The company, which could lose the arbitration as a result, will have to pay the amount to former partner Vale.

Argentina to pass new mining law this week

Governments, industry players, unions expected to sign federal mining agreement this week, which aims to double investment in the sector to $25bn in eight years.

Vale’s first quarter profit lower than expected as rains hurt iron ore output

Net income totalled $2.5 billion, compared with profit of $525 million in the prior three months and almost $1.8 billion a year earlier.

Vale’s iron ore output just hit another record

Production of the steelmaking raw material jumped 11% to 86.2 million tonnes in the January-March period, compared to the same quarter a year earlier.

Search for ship containing 260,000 tonnes of iron ore continues

The Stellar Daisy, which set out from the a port in Brazil to China, last made contact on Friday. 22 out of the 24 crew members are still unaccounted for.

Vale’s new CEO Schvartsman a political move in the right direction — analysts

Fabio Schvartsman will lead the transition of the world’s largest iron ore miner into a new shareholding structure.

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.