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Vale SA (VALE.N)

VALE.N on New York Stock Exchange

26 May 2017
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$0.06 (+0.71%)
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Latest Key Developments (Source: Significant Developments)

BHP Billiton says qtrly iron ore production 55,626 kt
Tuesday, 19 Jul 2016 06:26pm EDT 

BHP Billiton Ltd : Operational review for the year ended 30 June 2016 . Qtrly iron ore production 55,626 kt versus 60,086 kt a year ago . Q4 copper production 413 kt versus 435 kt a year ago . Q4 total petroleum production 56.0 mmboe versus 63.2 mmboe a year ago . Total iron ore production is expected to increase to between 228 and 237 mt in the 2017 financial year, excluding production from samarco . Total copper production is forecast to increase to 1.7 mt in the 2017 financial year . Total iron ore production for the 2016 financial year was broadly unchanged at 227 mt . Petroleum production is forecast to decrease to between 200 and 210 mmboe in the 2017 financial year . Expect to achieve full year unit cost guidance at our major assets, with unit costs forecast to decline further next year . Waio production for the 2017 financial year is forecast to increase to between 265 and 275 mt . Samarco production for the 2016 financial year was 11 mt (100 per cent basis). . Underlying attributable profit in the June 2016 half year is expected to include additional charges of up to US$175 million . Los colorados extension project was approved by the escondida owners council with first production expected in the second half of the 2017 financial year. . Four major projects under development are tracking to plan..  Full Article

Brazil Vale to show settlement best for clean-up of Samarco spill
Friday, 1 Jul 2016 12:01pm EDT 

Vale Sa : Brazil's Vale said in a statement it aims to demonstrate to courts that the settlement agreed with the government in March is the best option for repairing damage from the Samarco tailings dam disaster . The settlement was ratified in May but that decision was suspended on Friday after an appeal from prosecutors . Samarco is a joint venture between Vale and BHP Billiton Full story: [nL4N19N3QF] Further company coverage: [VALE5.SA] (Reporting By Stephen Eisenhammer) ((Stephen.Eisenhammer@thomsonreuters.com;)).  Full Article

BHP Billiton updates on Samarco, interim order issued by Superior Court of Justice
Thursday, 30 Jun 2016 08:20pm EDT 

BHP Billiton Ltd : Update Samarco Brazil . Refers to Federal prosecutors' office that earlier appealed against the ratification of the framework agreement . Superior Court of Justice in Brazil issued interim order suspending decision of federal court of appeal to ratify framework agreement . Effect of interim order of superior court of justice is to reinstate BRL20 bln public civil claim made by Brazilian authorities .BHP Billiton Brasil intends to appeal decision of superior court of justice.  Full Article

Vale said in talks with Asia buyers for stake in Brazil iron ore - Bloomberg, citing sources
Friday, 17 Jun 2016 07:00pm EDT 

: Vale said in talks with Asia buyers for stake in Brazil iron ore - Bloomberg, citing sources .Potential sale of a minority stake in Vale's Brazilian iron-ore assets could fetch as much as $7 billion - Bloomberg, citing sources.  Full Article

Brazil's CCEE says electricity distributors in default for large amounts
Wednesday, 18 May 2016 10:31am EDT 

: President of Brazilian energy market clearing CCEE says some electricity distributors are in default for "important values" . He said, if nothing was done, problem would likely worsen .Brazil's electric energy sector is showing signs of extreme stress and fragility, after two years of drought that depleted hydroelectric reservoirs was followed by ample rains this year and a sharp economic slowdown and drop in demand.  Full Article

Vale SA sells its minority stake in Companhia Siderurgica do Atlantico
Tuesday, 5 Apr 2016 07:21am EDT 

Vale SA:Informs about sale of its whole stake of 26.87 percent in Companhia Siderurgica do Atlantico (CSA) to Thyssenkrupp, as a part of the initiative to simplify asset portfolio.Says stake is being sold for symbolic price with earn-out clause, which entitles the company potential revenue if controlling interest of CSA is sold to a third party.Says after settlement of transaction, the company will no longer be responsible for CSA's debt.  Full Article

Vale SA - African Rainbow Minerals Ltd Minerals cuts jobs as H1 profits halve - Reuters News
Thursday, 10 Mar 2016 08:46pm EST 

Vale SA:Diversified mining group African Rainbow Minerals (ARM) said on Friday its first-half profit halved due to sharply softer commodity prices, prompting layoffs and costs cuts to stay afloat - RTRS.Headline earnings per share, a measure that strips off certain one off items, in the six months to December reached 233 cents from 473 cents a year earlier.ARM, which has interests in platinum, iron ore, coal, copper, and gold saw lower prices in all of its commodities except for chrome."ARM has responded proactively to the commodity price downturn and has implemented operating and capital cost reduction initiatives at all its operations," the company said in a statement.The company operates joint ventures with Anglo American Platinum, Assore, Impala Platinum, Glencore and Vale.ARM cut planned spending for the first half of 2016 by 15 percent to 1.4 billion rand ($92 million) mainly from curtailments in the ferrous metals Black Rock Project, which is its most capital intensive venture.The company said it would cut jobs at its platinum mines Modikwa and Nkomati, Beeshoek iron ore mine and Khumani chrome mines but did not say how many positions were on the line.  Full Article

Vale SA signs MoU with Fortescue to create joint ventures
Tuesday, 8 Mar 2016 08:55am EST 

Vale SA:Says that it has signed a memorandum of understanding with Fortescue Metals Group Ltd to explore creating joint ventures to blend iron ore for the Chinese market.Says that the agreement opens the possibility for the company of launching mining projects in Australia in partnership with Fortescue.  Full Article

Vale SA - Samarco to pay at least $5 bln in Brazil dam spill deal - source - Reuters
Tuesday, 1 Mar 2016 04:42pm EST 

Vale SA:Samarco Mineracao SA will pay at least 20 billion reais ($5 billion) over 15 years as part of a deal reached with the Brazilian government to settle a lawsuit for damages caused by a deadly dam spill at a mine in November, a government source told Reuters on Tuesday. - RTRS.Samarco, a joint venture between Vale and BHP Billiton, will pay 4.4 billion reais in the three years following the agreement that will be signed on Wednesday, said the official who requested anonymity since the information was not yet public.The rest of the funds will be released in the following years. Regarded as Brazil's worst environmental disaster, the burst dam killed 19 people, forced hundreds to leave their homes and polluted one of the country's main rivers.The deal comes after Vale announced a fourth-quarter net loss of $8.57 billion, its worst ever as a private company, and BHP recorded its first loss in more than 16 years for the six months to Dec. 31.BHP Billiton declined to comment on terms of any agreement, but reiterated that an agreement was close. Press representatives with Vale and Samarco were not immediately reachable for comment.The dam burst revealed a series of mistakes by under-funded mining and environmental regulators in one of the world's top iron-ore producer, triggering a debate over harsher mining controls in Congress.  Full Article

Vale SA - BHP Billiton says no settlement yet on Brazil dam disaster - Reuters
Thursday, 25 Feb 2016 04:20am EST 

Vale SA:BHP Billiton said on Friday that no agreement has been reached yet with Brazilian authorities to fund clean up and damages for a dam burst that killed at least 17 people in that country's worst environmental disaster. - RTRS.BHP put out a statement after an influential columnist for the O Globo newspaper said an agreement had been reached on Thursday.Under which Samarco, owned by BHP and Brazil's Vale, has committed to provide a total of 4.4 billion Brazilian reais ($1.1 billion) between 2016 and 2018 and additional funds for a further seven years.BHP said on Friday that talks were continuing."Significant progress has been made with the negotiations, and we are hopeful that an agreement will be reached," the company said in a statement to the Australian Securities Exchange, reiterating comments made in its annual results on Tuesday."If and when that happens, an announcement will be made at that time.".  Full Article

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Brazil's Vale new CEO eyes acquisition, diversification: analyst reports

SAO PAULO Vale SA, the world's largest iron ore miner, intends to resume growth with acquisitions and diversification, new Chief Executive Officer Fabio Schvartsman told analysts on Friday.