Vale Mining News

Iron ore price tops $100 a tonne for the first time in 5 years

Increasing supply worries after Vale warns of another dam burst.

Vale says another dam may collapse next week

According to a document published on Thursday, prosecutors said Vale is predicting the dam in the city of Barao de Cocais may collapse next week.

Vale Canada and Terrapure recognized for reclamation efforts

Terrapure Environmental and Vale Canada's sustainable method for managing biosolids during winter months was recognized by the Environmental Leader, a Colorado-based publication.

Top miners saw positive FY2018

Supported metal prices, debts being slashed, and production efficiency growth were the keys for the good performance.

Vale hopes to return to 400 million tonnes annual output in 2-3 years, CFO says

At the same time, CFO Luciano Siani said that quickly restarting production was not the company's top priority after the Brumadinho disaster, for which the company was forced to take nearly $5 billion in writedowns in the first quarter.

Vale posts $1.64B loss for quarter marred by deadly dam burst

The company had posted a net profit of $1.59 billion in the year-ago period.

Norway's KLP fund cuts coal exposure

Norwegian pension fund manager KLP has sold $366m of bond and equity exposure in 46 companies, including leading miners BHP and Anglo American.

BHP hit by $5 billion lawsuit over 2015 dam failure in Brazil

The group action suit describes in detail a series of failures and errors of judgment over several years leading to the collapse of the Fundão tailings dam in 2015, owned by the Samarco joint venture between BHP and Vale.

Vale says court halts Brucutu iron mining operations

World's top iron ore miner guides down production again for 2019 after earlier decision is reversed.

Brazil's Vale asks court for inspection firm documents on burst dam

Vale argues that if the German inspection firm TÜV SÜD had not fulfilled its contract it could be held responsible.

Vale shareholders push to loosen company control over board elections

Minority shareholders of Vale SA have enough votes to request that board members be elected independently using a cumulative voting system.

Iron ore miners should take advantage of high prices and improve their credit scores: Fitch

The credit ratings and research division of the Fitch Group says producers should take advantage of the current environment of lower supply, healthy demand and higher prices.

Brazilian miner Vale files $2B lawsuit over Guinea project

The arbitration case stemmed from a dispute between Vale and BSG Resources Ltd over a joint venture to develop the Simandou mine.

Nerves of steel are needed if iron rally is over: taking stock

The Stoxx Europe 600 is still stuck in a tight range as the earnings season is getting into full swing.

Brazilian court authorizes Vale to resume ops at Brucutu mine

A Brazilian court has authorized Vale to resume operations at the Brucutu mine, its largest in the state of Minas Gerais.

Iron ore shortage after Vale disaster hurting Brazil steelmakers — report

Vale's situation could force other steelmakers to halt production if nothing is done to normalize supplies.

Iron ore price rally could give BHP, Rio Tinto 30% earnings boost

The supply/demand dynamics benefit Australia’s iron ore miners, according to the latest research by the Macquarie Group.

Vale says BSG ordered to pay it $1.25B

The joint venture intended to explore for iron assets at the Simandou prospect, but the concession was revoked in 2014 by Guinea's government.

Vale opens talks on compensation for dam disaster victims

Vale SA has opened negotiations with prosecutors and families of victims of the deadly January dam disaster.

As Goldman backs off, Citi says chase iron ore rally to $100

Iron ore’s poised to hit $100 a ton, according to Citigroup, which highlighted “very, very low” seaborne cargoes just as data from China may show a pick-up in demand.

A million tonnes of copper is on the way: it may not be enough

Giant mines currently under construction will churn out an additional one million tonnes of copper through 2023, but that won’t be enough.

Vale minority shareholders push for board, voting changes

A group of minority shareholders in Vale SA has proposed an alternative board member and to change the board election to a cumulative voting system.

Investors with $10 trillion in assets pressure miners over tailings safety

The move is aimed at providing a tool for institutional investors to assess the risk from their holdings in mining companies.

How countries are getting tougher with mining companies

A mix of political populism, higher commodity prices and the expectation electrification will spur demand for raw materials has led governments to change the rules for miners operating in their countries.

Iron ore thunders higher as mine dams closed, exports collapse

Futures topped $90 a tonne on Wednesday amid increasing concern the crisis at Brazil’s Vale SA will be drawn out as regulators ordered dozens of dams to be shut.