Brazil’s Vale slashes 2009 capex by $5,2bn

MAJOR diversified mining group Companhia Vale do Rio Doce (Vale), currently the world’s number two miner, has announced that it has cut its 2009 capital expenditure (capex) budget by $5,2-billion. Previously, the company’s capex budget for...

Vale shareholders approve name change

Brazilian mining giant Companhia Vale do Rio Doce will change its legal name to Vale S.A., effective Friday, after the move was approved by shareholders at a special meeting. The company was known as CVRD for short, until November 2007, when the...

Mining major cuts costs, reduces production, seeks flexibility

COST minimisation in the face of the global recession is now the priority for world number two diversified mining group Companhia Vale do Rio Doce (Vale). This replaces the previous priority which was production maximisation. At the operational...

FNX plans to raise C$15m in flow-through financing

TSX-listed FNX Mining will raise up to C$15-million by selling 2,17-million flow-through shares, to fund exploration on the company's Sudbury properties. The firm has engaged Primary Capital to issue and sell the shares at C$6,90 apiece, with...

Dubal will buy stake in Vale alumina refinery

Brazilian resources group Companhia Vale do Rio Doce has entered into a share purchase agreement with Dubai Aluminium Company Limited (Dubal), which will buy a stake in Vale's Companhia de Alumina de Pará (CAP). If the transaction, which is...

Potash One hires ex-Rio process engineer

Vancouver-based potash hopeful Potash One has appointed John McEwan as vice president of solution processing, for the company's Legacy potash project, in souther Saskatchewan. McEwan was previously the principal process engineer at Rio Tinto, and...

Vale paid $305,8m for Colombia coal assets

The world's biggest iron-ore producer, Companhia Vale do Rio Doce, has bought export thermal coal assets from Colombia's Cementos Argos for $305,8-million, the Brazilian miner announced on Wednesday. Vale said in December it would pay...

Sandvik shrugs off local, Chinese competition to clinch R450m Moatize conveyor contract

Mining and construction specialist company Sandvik Materials Handling has bucked the trend in the current economic downturn by landing an R450-million contract to design and install 20 conveyors over six kilometres in length for the giant Moatize...

Africa still in Brazilian mining major Vale’s sights

Diversified mining giant Companhia Vale do Rio Doce (Vale) has reaffirmed its commitment to its investment programme, despite the global recession. “What we seek first is to preserve the scope of our investment programme – this is the basic...

Africa still in Brazilian mining major’s sights

Cover story on Companhia Vale do Rio Doce, its response to the global recession, its good financial situation & record production, & its growing assets in Africa.

Sod-turning at new R35m coal lab

Specialised coal laboratory Witlab held a sod-turning ceremony last month at the site of its new R35-million laboratory.

Mining major sees signs of Beijing’s stimulus working

MAJOR diversified miner Companhia Vale do Rio Doce (Vale) believes that China’s economic stimulus plan is beginning to have beneficial effects. In its report of its operational and financial performance for 2008, released last week, the...