Brazilian mining giant is retaining control of the TIPLAM port terminal, which was originally included in the deal.
Vale Mining News
Australia expects iron ore prices to average $51.50 a tonne this year because of rising global supply and moderating demand from top importer China.
The mining cycle turned two years ago – gains for the sector's largest companies have far outpaced stocks like Apple, Amazon, Google and Facebook since.
Vale and BHP Billiton in talks over future of their Samarco iron-ore joint venture, including the possibility of the Brazilian miner taking full ownership.
The South American miner wants to retain control of the TIPLAM port terminal, which is an asset originally included in the deal.
"Now is the era of the Vale dividends. Vale will become a big payer of dividends if everything goes well," CEO Fabio Schvartsman said on Friday.
The global miner said on Monday it would not pay bonuses demanded by its workers in what it called an illegal strike at the Moatize coal plant in Mozambique.
Workers at Vale's Mozambique Moatize coal mine downed tools on Friday in a dispute over bonus payments, paralysing work at the plant.
While "everyone knows there are great opportunities" for nickel in the EV sector, "prices are not there", according to Vale Chief Exec Fabio Schvartsman,
The permits issued by Minas Gerais state, where the mine is located, allow for the construction of a waste system in a depleted mine to receive tailings.
The future of New Caledonia mine is considered a key test for CEO Schvartsman, who pledged to improve shareholder returns.
Brazil's Vale is prepared to unleash as much as 50 million metric tons of spare capacity to balance the market if prices get too high.
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.
Analyst Hui Shan said that Goldman’s projections see iron ore falling to $60 a ton in three months, $55 in six and $50 in 12.
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.
BHP Billiton Ltd and Vale SA have secured a 150-day extension from a Brazilian court to negotiate a settlement of a $48 billion claim stemming from the Samarco mine disaster in 2015, BHP said on […]
Brazil's Vale SA denied that it had decided to postpone the sale of a stake in the New Caledonia nickel mine, saying it is continuing to look for a partner.
Samarco said it would resume talks with two unions on Friday following Thursday meetings on the need to reduce staff to 1,135 from 1,735.
Miners' lawyers filed documents late Thursday requesting that the presiding judge suspend two civil suits from 2015 Samarco dam spill.
According to the UN Environment Program's latest report, most of the 40 significant mine waste accidents in the past decade have involved dams or other storage areas that failed.
Under the terms of the collective agreement, employees do not get paid when work is not available.
Production goals for Vale's Carajas project, the world's largest open-air iron ore mine, are directly tied to cargo shipments on its railroad there, which carries output to Brazil's Ponta da Madeira port.
Battery boom promises new and growing market for high-grade nickel products, but half the world's supply of the metal is unsuitable for battery production.
Samarco JV iron ore mine in Brazil remains closed two years after deadly dam burst.
Third quarter results for the Brazilian miner, the world's top iron ore producer, show a 19 million tonne gap between sales and output.