China’s switch from industrial-led to consumption-led growth seems to be showing up everywhere except the production numbers of iron-ore miners.
Vale SA Mining News
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.
The share sale may be worth up to $2.4 billion if BNDESPar, the investment arm of state development bank BNDES, also sells part of its Vale stake.
Output of the steelmaking material reached 366.5 million tonnes last year, boosted by record high productionat Vale's northern system, which composed of its Carajás, Serra Leste and the massive S11D mine.
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’s lower house of Congress removed from the agenda the discussion of a transitory presidential decree, which modified the country’s current mining law.
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.
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.
Iron ore production rose 3.3% compared with the same period last year to hit a fresh quarterly record of 95.1 million tonnes.
Move is part of a wider review of low performing assets after new Chief Executive Fabio Schvartsman took charge in June.