The comments came a day after Vale reported a first-quarter slide in profit of 36 percent on higher costs and lower iron ore prices.
Vale Mining News
A day after first quarter results showed a 36 percent slump in profit, executives said they were not satisfied with nickel prices.
The world's largest iron ore producer posted a 36 percent slump in first-quarter profit compared to the same quarter a year earlier.
They are seeking to obtain 30 more days to finish details of the plan.
The world's top iron ore producer said that heavy rains in the first three months of the year impacted its output.
A diamond drilling campaign is about to start at the Salobro Zinc Project.
Cobalt, nickel still on the boil, but gloomier outlook reflected in copper price and fall in market value of top mining companies during first quarter.
The accident killed 19 people, left hundreds homeless and unemployed and caused sludge to wash downstream into the neighbouring state of Espírito Santo.
The are two main factors that appear to be emerging that may threaten an end to the current quite rosy picture surrounding demand for commodities such as iron ore, steel and the metals most exposed to the battery boom, cobalt, lithium and nickel.
Samarco Mineracao – a Vale-BHP joint venture – ceased operations in November 2015 following a deadly tailings dam burst.
Vale said in a securities filing that net income totaled $771 million, compared with an average consensus estimate of $2.537 billion.
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.
Top listed copper producer Freeport jumped 7.4% and with Vale – up 6% – was among the NYSE's top 10 most actively traded stocks.
Reuters reports Vale has hired bankers to put together world's first ever cobalt streaming deal worth up to $500 million at its Voisey's Bay mine in Canada.
The UK-based research and consultancy group has dropped its price forecast to $63 a tonne or 12% below last year's average of $71 per tonne.
During a meeting with investors and analysts in Sao Paulo, Vale’s investor relations director, André Figueiredo, said it seemed “natural” for his company to become the sole owner of the project.
Brazilian mining giant is retaining control of the TIPLAM port terminal, which was originally included in the deal.
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,