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Brazil regulator suspends operations at two Vale mine complexes

By: Reuters     21st February 2019 Brazil's mining regulator has ordered Vale SA to suspend activity at its Fabrica and Vargem Grande complexes, the iron ore miner said late on Wednesday, as authorities crack down after last month's fatal dam break. In a statement, Vale said the ANM mining regulator ordered the suspension in... 

Brazil bans upstream mining dams after Vale's latest disaster

By: Bloomberg     18th February 2019 Brazil is prohibiting a specific type of tailings dam after two of those structures owned by miner Vale burst in recent years, causing death and environmental devastation. All so-called upstream dams need to be decommissioned or removed by August 2021, according to a resolution the National... 

Miner Vale says fire to halt operations at Malaysia distribution center

By: Reuters     15th February 2019 Brazilian miner Vale SA said a fire broke out on Friday in its distribution center in Malaysia, temporarily affecting shipments, according to a securities filing. Vale added that the fire caused "only material damages" and that operations are likely to resume in 10 to 15 days. 

Southern Copper says Peru plant to be partially suspended 3 to 5 days

By: Reuters     12th February 2019 Southern Copper Corp said on Monday that a key plant it uses to produce copper in Peru would not fully restart for another three to five days while work is done on its tailings and railway infrastructure following heavy rains. Peru's environmental regulator OEFA has been investigating a... 

Vale's rout lures locals while foreigners remain wary, UBS says

By: Bloomberg     11th February 2019 Local investors are starting to see value in Vale SA shares after a fatal accident last month wiped out nearly a quarter of its market value, while global investors remain skeptical, according to UBS Group. Approximately 80% of Brazilian investors are showing interest in buying Vale after the... 

Brazil set to ban upstream tailings dams after collapse kills hundreds

By: Reuters     7th February 2019 Brazil's mining agency plans to ban upstream tailings dams used for storing mining waste, a director at the National Mining Agency (ANM) said on Thursday, after such a dam burst last month, likely killing at least 300 people. Eduardo Leão, a director at ANM, said the agency aims to issue an... 

Audit of burst Brazil dam found issues with drainage, monitoring - reports

By: Reuters     5th February 2019 A report commissioned by Brazilian miner Vale SA last year to look into the stability of the tailings dam that ruptured January 25 certified it as sound but raised concerns over its drainage and monitoring systems, newspaper Folha de S. Paulo reported on Tuesday. The report by German-based TÜV... 

South African miners to review construction of tailings dams after Brazil disaster

By: African News Agency      1st February 2019 The Minerals Council South Africa on Thursday said local miners would be reviewing their tailing storage facilities construction, maintenance and operating protocols following the collapse of the tailings dam at Brumadinho in the Brazilian state of Minas Gerais. At least 60 people have been... 

Iron-ore rockets as Vale supply disruption convulses market 

By: Bloomberg     30th January 2019 The global iron-ore market was pitched into turmoil after Brazil’s Vale SA, the world’s largest producer, outlined plans to cut output after a deadly dam breach, buoying shares of rivals as investors weighed the impact of the disruption. Prices soared, with futures rallying more than 9%. Vale... 

Brazil makes Vale arrests as Cabinet meets on fatal dam break

By: Bloomberg     30th January 2019 Brazilian police arrested three employees and two contractors for embattled mining giant Vale SA as an investigation into a dam rupture that has killed at least 65 and left a path of destruction in the state of Minas Gerais widens. The two contractors worked for German consultancy firm TUEV SUED,... 

Vale gets approval to buy 3 wind farms in northeast

By: Reuters     16th January 2019 Iron-ore miner Vale SA has won approval from Brazil's antitrust regulator to buy three wind farms in the northeast of the country from investment fund Salus, according to an announcement in the official gazette on Tuesday. In announcing its decision, the Administrative Council for Economic... 

Goldman warns iron-ore's jump into $70s 'is not sustainable'

By: Bloomberg     9th January 2019 Iron-ore’s rally over the past month, with benchmark material pushing back into the $70s, is at risk as banks including Goldman Sachs Group and Morgan Stanley warn that prices are poised to drop back. While industry fundamentals have improved, current prices won’t last as more supply is on the... 

Brazilian pension fund Previ won't sell Vale shares before year end

By: Reuters     23rd October 2018 Brazilian pension fund Previ, one of iron ore miner Vale SA's largest shareholders, will not sell part of its stake before the year ends, its CEO said on Monday. Speaking on the sidelines of a conference in Rio de Janeiro, CEO Jose Mauricio Coelho said the fund intended to reduce its stake in... 

Balking miners jeopardise $2.8bn Mozambican coal rail

By: Bloomberg     5th October 2018 A plan to develop a $2.8-billion railway and port to ferry coal in Mozambique may collapse because miners are balking, according to the man trying to build it. Failing to get the project off the ground would deprive the southern African country of a source of revenue it’s come to rely on as it... 

BHP seeks approval for $50m US pact over fatal Brazil dam burst

By: Reuters     20th September 2018 BHP Billiton has asked a US judge to approve a $50-million settlement of claims that it fraudulently inflated its share price by overstating its ability to manage safety risks before a fatal 2015 dam burst at a Brazilian mine. The Anglo-Australian mining company's preliminary settlement of... 

Vale's iron-ore output will rise only if prices increase – CEO

By: Reuters     27th August 2018 The CEO of Brazil's Vale SA, the world's largest iron-ore producer, said in an interview published on Sunday that the company would ramp up annual production to 450-million tonnes only when prices rise. Vale CEO Fabio Schvartsman told the Estado de S. Paulo newspaper the company would only... 

Brazil's Samarco mine unlikely to restart in 2019 -BHP

By: Reuters     21st August 2018 There is little likelihood that Brazil's Samarco iron ore mine, a joint venture between Vale SA and BHP Billiton, will restart operations next year even though it expects to have all of the required licenses, a BHP spokesman said on Tuesday. The statement confirmed comments made by another BHP... 

Russian miners explore payment schemes eschewing dollar

By: Reuters     15th August 2018 Two of Russia's biggest mining companies said on Wednesday they were investigating rouble-based payments schemes, amid calls from Moscow to reduce the role of the US dollar in Russian trade and so limit the impact of US sanctions. The Kremlin said on Monday that Russia favoured bilateral trade... 

BHP says Brazil court approves Samarco settlement

By: Reuters     10th August 2018 Mining heavyweight BHP said on Thursday a federal court in the Brazilian state of Minas Gerais approved an agreement between miner Samarco and Brazil authorities, marking a milestone in the legal battle over a deadly 2015 dam failure. A 20-billion reais ($5.- billion) lawsuit against Samarco,... 

Brazil mining exports to rise 2.5% in 2018 – Ibram

By: Reuters     6th August 2018 Brazil's mineral exports are expected to rise 2.5% in 2018 compared with the previous year to 410-million tonnes, as investment in the sector is projected to grow, industry group Ibram said on Friday. By value, mineral exports are expected to increase to $30-billion from $28.37-billion last... 

Vale posts rise in second-quarter profit

By: Reuters     25th July 2018 Brazil's Vale SA, the world's largest iron ore producer, posted a rise in second-quarter net income, results showed on Wednesday. The miner said profit in the second quarter rose to 306-million reais ($82.96-million) from 60-million reais in the same period a year earlier. However, the figure... 

Japan's Mitsui may raise its stake in Vale – executive

By: Reuters     6th July 2018 Japanese trading house Mitsui & Co may boost its stake in Brazil's Vale SA if other shareholders sell part of their holdings, a senior executive said, giving it greater influence over the iron ore giant's management. Several Brazilian pension funds and BNDESPar, the investment arm of state... 

Huge Brazil tax liability slows sale of funds' Vale stakes – sources

By: Reuters     29th June 2018 A potential tax liability in the billions of dollars is delaying the sale of major stakes in miner Vale SA by Brazil's largest pension funds, according to two sources with knowledge of the matter. Discussions over the tax issue are prolonging when and how pension funds are going to unload their... 

Samarco is said to be nearing settlement with Brazil prosecutors

By: Bloomberg     15th June 2018 After a year of back and forth, the owners of the idle Samarco iron-ore mine are close to signing a definitive settlement with Brazilian prosecutors that will clear the way for restart preparations and debt talks to begin, according to people briefed on the matter. Joint venture partners Vale... 

Brazil pension fund Funcef still considering sale of Vale stake

By: Reuters     12th June 2018 Brazilian pension fund Funcef is still considering whether to sell its stake in mining company Vale SA but sees no immediate urgency to do so, its director Paulo Werneck said on Tuesday, as funds try to avoid putting pressure on Vale shares. Speaking to journalists on the sidelines of a... 

Vale signs $690m in cobalt deals with Wheaton, Cobalt 27

By: Bloomberg     11th June 2018 Vale SA reached agreements to sell future production of cobalt for $690-million upfront as producers look to capitalize on the battery-commodity boom to raise cash for investments. The deal includes $390-million from Wheaton Precious Metals and $300-million from Cobalt 27 Capital, the companies... 

Vale is said to reach $700m deal to sell cobalt output

By: Bloomberg     11th June 2018 Vale SA reached an agreement to sell future production of cobalt as battery makers look to shore up supply of the metal amid a nascent electric-vehicle boom, people with knowledge of the matter said. The deal is for about $700-million of cobalt produced at the Voisey’s Bay complex in Canada that... 

World's top iron shipper says China import boom to level off

By: Bloomberg     9th April 2018 The world’s largest iron-ore exporter delivered a mixed message on the outlook, raising near-term price forecasts, but combining that revision with a more somber message that China’s gargantuan imports are set to level off as steel production eases in the coming years. Iron-ore will average... 

First Cobalt buys Idaho explorer in race to tap battery boom

By: Bloomberg     15th March 2018 First Cobalt is seeking to speed up its timetable to begin producing cobalt, riding the wave of interest in the metal used in electric-vehicle batteries and smartphones. The Vancouver-based exploration company agreed to buy explorer US Cobalt, which has properties in Idaho, in an all-stock deal... 

Vale sails new 'green' ship in bid to cut rivals China advantage

By: Bloomberg     28th February 2018 Brazil’s Vale SA has sailed the first in a fleet of more efficient cargo vessels it’s using in a push to minimize the geographical advantage of its Australian rivals in sending iron ore to China. The Yuan He Hai is part of a second-generation line of Very Large Ore Carriers, known as VLOCS or... 

Vale Q4 profit rises but misses estimates on costs, forex

By: Reuters     28th February 2018 Brazilian iron-ore miner Vale SA's quarterly net income jumped by 47% but still badly missed analyst estimates, depressed by rising costs and foreign exchange related losses. 

What happens when China's steel curbs end? Here's BHP's take

By: Bloomberg     22nd February 2018 Steelmakers in China are about to get back to business full-time. When unprecedented winter supply curbs lapse in the coming weeks, BHP Billiton forecasts mills in the top producer will step up output, boosting run rates through the second quarter to make up for curtailments. The resumption will... 

Nornickel says palladium output may fall in 2018

By: Reuters     31st January 2018 Norilsk Nickel, the world's largest palladium producer, said on Wednesday its production of palladium could decline in 2018, while the output of nickel from Russian raw material would remain flat. Nornickel, part-owned by Russian tycoon Vladimir Potanin and aluminium giant Rusal, previously said... 

Top iron-ore miner threatens to flood market if prices jump

By: Bloomberg     7th December 2017 Vale SA has a somber message for anyone betting on iron-ore prices returning to the heady days of 2011. The world’s biggest producer of the steel-making ingredient is prepared to unleash as much as 50 -million metric tons of spare capacity to balance the market if prices get too high, CEO Fabio... 

Goldman sees iron-ore sinking to $50/t as supply expands again

By: Bloomberg     29th November 2017 Iron-ore will weaken next year as global supplies increase including from a new mine in Brazil at the same time that steel production risks topping out in China, according to Goldman Sachs Group, which expects prices to decline back toward $50 a metric ton. Futures fell. The raw material may... 

Volkswagen is said to step up bid for cobalt for electric cars

By: Bloomberg     23rd November 2017 Volkswagen AG is stepping up its hunt for long-term supplies of battery metals it will need to help power electric cars across its entire range. The top automaker invited producers and traders of cobalt, one of this year’s best-performing metals, for talks at its German headquarters this week,... 

BHP-Vale deal distances Brazil mine from $53bn in lawsuits

By: Bloomberg     19th November 2017 It came down to the wire, but BHP Billiton, Vale SA and their Samarco joint venture managed to close a deal with prosecutors that distances the companies from 175-billion reais ($53-billion) in lawsuits. Their lawyers filed documents late Thursday requesting that the presiding judge suspend two... 

Iron-ore sinks as 'peak steel' call, supply angst rattle market

By: Bloomberg     20th September 2017 Iron-ore has been dragged back into the $60s after getting hit by a barrage of bad news, with persistent concern about rising global supply, fresh questions about the outlook for demand in China, and a warning from Australia’s central bank that the top buyer may be nearing peak steel. The... 

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