Previ intends to reduce its stake in the miner over the medium-term.
Vale Mining News
The logic is sound: If steel mills are given pollution restrictions, they will use the best possible quality iron ore to maximise the amount of steel produced relative to the energy consumed.
Brazil's Vale expects the EV revolution to boost battery market nickel demand to as much as 700,000 tons in 2025, from just 36,000 tons this year.
Samarco, a joint mining venture between Brazil's Vale and BHP Billiton, could resume production at a third of its capacity at the beginning of 2020.
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.
The definitive agreement comes almost three years after the incident, which killed 19 people and became the country’s worst ever environmental disaster.
China, the world's biggest consumer of the steelmaking ingredient, has ramped up buying of higher-quality, less polluting grades of iron ore as it battles to clear its notoriously smoggy skies.
Vale on top.
Vale’s Clean AER Project is the largest single environmental investment in Sudbury’s history.
Using seven Caterpillar 793F CMD autonomous trucks, the miner was able to transport 26% more ore at Brucutu mine in just a month.
Fabio Schvartsman said the company would ramp up annual production to 450 million tonnes only when prices rise.
Fortescue Metals said that its annual profit halved as prices for its lower quality iron ore fell.
Investors found no solace in traditional safe haven gold with the precious metal setting a one-and-a-half year low.
Samarco, a joint venture of Vale SA and BHP Billiton, expects to obtain next year all licenses needed to resume operations.
Vale announced an adjusted EBITDA of US$3.9 billion in Q2 with iron ore production of 96.8 tonnes and sales of 86.5 tonnes.
Law firm leading the action says it has more than 3,000 investors signed up to pursue the miner for losses.
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.
Top iron ore exporter forecasts a return to the $50s as Chinese imports starts annual decline after decades of growth.
Copper, iron ore prices drop, mining majors punished as US threatens more tariffs on "predatory" Chinese imports and Beijing calls it "blackmail".
A week choc-a-bloc with billion dollar copper, iron ore and cobalt deals ends with huge drop in prices and sell-off in stocks of mining's biggest names.
Resolving the legal cases will allow talks with creditors to begin as the company starts to draft its long-term business plan.
Vale agreement sets something of a price benchmark for long-term cobalt deals by showing what financial investors are willing to pay.
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.
Michel Temer is expected to issue a decree next week introducing key changes to mining rules that date back to the 1960s.