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Vale SA (VALE.N)

VALE.N on New York Stock Exchange

9.72USD
17 Aug 2017
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Latest Key Developments (Source: Significant Developments)

African Rainbow Minerals announces disposal of indirect interest in Lubambe copper mine
Tuesday, 15 Aug 2017 10:44am EDT 

Aug 15 (Reuters) - AFRICAN RAINBOW MINERALS LTD ::‍DISPOSAL OF ARM'S INDIRECT INTEREST IN LUBAMBE COPPER MINE​.‍ARM AND VALE CONCLUDED AGREEMENT TO SELL 80% INDIRECT INTEREST IN ZAMBIA'S LUBAMBE MINE TO EMR CAPITAL BIDCO.‍PURCHASE CONSIDERATION FOR DISPOSAL IS US$97.10 MILLION AND WILL BE SETTLED IN CASH​.  Full Article

Mosaic CEO says unwilling to sell potash business at current valuation
Tuesday, 1 Aug 2017 11:19am EDT 

Aug 1 (Reuters) - Mosaic Co CEO Joc O'Rourke said on Tuesday::Mosaic's acquisition of Vale fertilizer assets received approval from Brazil regulator CADE.Mosaic CEO sees no place for new potash mines next 5-10 years beyond K+S, Eurochem mines.Mosaic unwilling to sell potash business at current valuation; would be open to selling at 'right price'-CEO.  Full Article

Mosaic Q2 sales $1.8 billion versus $1.7 billion
Tuesday, 1 Aug 2017 06:45am EDT 

Aug 1 (Reuters) - Mosaic Co :The Mosaic Company reports second quarter 2017 results.Q2 earnings per share $0.28.Q2 sales $1.8 billion versus $1.7 billion.Q2 earnings per share view $0.23 -- Thomson Reuters I/B/E/S.Mosaic Co - net sales in Phosphates segment were $975 million for Q2, essentially flat with $976 million last year.Mosaic Co - ‍total sales volumes for Phosphates segment are expected to range from 2.2 to 2.5 million tonnes for Q3 of 2017​.Mosaic Co - Q2 average dap selling price, fob plant, was $336 per tonne, compared to $343 per tonne a year ago.Mosaic Co - ‍total sales volumes for Potash segment are expected to range from 1.9 to 2.2 million tonnes for Q3 of 2017​.Mosaic Co - "chinese exports in first half of 2017 have been higher than we originally estimated".Mosaic Co - Phosphates segment total sales volumes were 2.6 million tonnes, up from 2.4 million tonnes last year.Mosaic Co - "mosaic generated improving results during q2 as global demand for potash and phosphates remained strong".Mosaic Co - net sales in Potash segment totaled $468 million for Q2, up from $457 million last year.Mosaic Co - ‍realized dap price, fob plant, is estimated to range from $310 to $330 per tonne for Q3 of 2017​.Mosaic Co - "we continue to expect china to export fewer tonnes of phosphates this year compared to last year".Mosaic Co - ‍realized mop price, fob plant, is estimated to range from $165 to $180 per tonne for Q3​.  Full Article

Clean Teq acquires autoclaves for Syerston project
Monday, 24 Jul 2017 06:41pm EDT 

July 25 (Reuters) - Clean Teq Holdings Ltd ::Autoclaves acquired for Syerston project.Acquired two autoclaves for Clean Teq's 100% owned Syerston nickel/cobalt/scandium project in NSW, Australia.Autoclaves were acquired from Vale International S.A., a subsidiary of Vale SA, for US$6.5 million.  Full Article

BHP updates on legal settlelement over the Samarco mine disaster in Brazil
Friday, 30 Jun 2017 02:20am EDT 

June 30 (Reuters) - BHP Billiton Ltd :Approved a total of US$250 million in financial support for renova foundation and Samarco Mineração S.A. Until 31 Dec 2017.The amount of US$174 million will be used to fund renova foundation for remediation and compensation programs identified under framework agreement.Operations at Samarco are unlikely to restart in cy2017.This $174 million amount will be offset against group's provision for samarco dam failure.Short-term facility of up to US$76 million will be made available to samarco to carry out remediation, stablisation work & to support Samarco's operations.Resuming operations at Samarco would require government approvals, granting of licenses by state authorities and restructure of Samarco's debt.‍On 18 Jan, Samarco, Vale S.A. (Vale) and BHP Billiton Brasil entered preliminary agreement with federal prosecutors' office in Brazil​.Court has extended final date for negotiation of a settlement until 30 October 2017.‍Under prelim agreement, parties agreed to suspend federal prosecutor's brl 7.7 billion injunction application in BRL 155 billion civil claim​.‍Parties agreed to request 12th federal court of Belo Horizonte replace BRL 1.2 billion injunction in BRL 20 billion civil claim with interim security of BRL 2.2 billion​.‍Parties also agreed under preliminary agreement to suspend BRL 20 billion asset freezing order application made by federal prosecutors​.  Full Article

Samarco requests extension for dam disaster guarantee
Monday, 9 Jan 2017 08:08pm EST 

Vale Sa :Vale sa - informs that Samarco, its shareholders in talks, submitted joint petition requesting extension to present guarantee on jan. 19 - SEC filing.  Full Article

Samarco requests extension for dam disaster guarantee
Monday, 9 Jan 2017 04:18pm EST 

Vale Sa :Vale sa - informs that Samarco, its shareholders in talks, submitted joint petition requesting extension to present guarantee on jan. 19 - SEC filing.  Full Article

BHP Billiton's Samarco disaster coordinator to leave company in March
Thursday, 27 Oct 2016 01:02am EDT 

BHP Billiton Plc : Chief commercial officer dean dalla valle will leave the company at the end of march 2017 . Will centralise the management of Samarco alongside the group's other major minerals non-operated joint ventures in the minerals Americas portfolio For write up on this click on: [nL4N1CX2AX] Further company coverage: [BLT.L] ((Bengaluru Newsroom +918067491136;)).  Full Article

BHP Billiton updates on investigation findings into causes of failure at Samarco dam
Monday, 29 Aug 2016 05:48pm EDT 

BHP Billiton Ltd : Samarco update . Panel of 4 geotechnical specialists published findings into causes of failure of FundãO tailings dam at iron ore operations of Samarco . Dean Dalla Valle, BHP Billiton's chief commercial officer, said the dam failure had a devastating impact . Vale, BHP Billiton brasil and Samarco jointly commissioned Cleary Gottlieb Steen & Hamilton LLP to investigate cause of failure . Separately undertaken a comprehensive review of significant dams, which has confirmed that those dams are stable . Says reviewing non-operated minerals joint ventures in its portfolio . Says will centralise management of all major non-operated minerals joint ventures in the minerals americas operating group . Says will establish a new BHP Billiton global standard for non-operated minerals joint ventures .Will apply the process for dam safety reviews developed by the Canadian Dam Association at all of its minerals assets.  Full Article

Teixeira Duarte units win 66.4 mln euro deal in Brazil
Thursday, 25 Aug 2016 05:02am EDT 

Teixeira Duarte SA : Said on Wednesday that its Brazilian units EMPA SA Servicos de Engenharia and Somafel Obras Ferroviarias e Matritimas Ltda had signed a contract with Vale SA to execute certain construction works along the railroad in Maranhao and Para states in Brazil . Contract is worth 239.6 million Brazilian reais ($74.3 million), which corresponds to 66.4 million euros .Works to be done in 759 days to count as of July 26.  Full Article

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Mitsui to book $810 million after-tax profit in second-quarter on Vale's stock conversion plan

TOKYO Japanese trading firm Mitsui & Co Ltd said on Tuesday it would book an after-tax profit of about 89 billion yen ($810 million) in the July-September second quarter on Brazil's Vale's stock conversion plan.