Key Developments: Vale SA (VALE.N)

VALE.N on New York Stock Exchange

23 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Vale SA suspends force majeure on iron ore shipments
Monday, 6 Jan 2014 06:22am EST 

Vale SA:Says it suspends force majeure (FM) on a number of its iron ore contracts, effective as od Jan. 6.Says the declaration of FM occurred due to high rainfall in the southeastern Brazil, mainly in Espirito Santo state.Says the company managed to decrease a loss initially estimated at between three and four million metric tons to 2.5 million metric tons in iron ore shipments in Dec. 2013, of which up to 1.3 million metric tons could be potentially retrieved in the first quarter of 2014.  Full Article

Vale SA declares force majeure on iron ore shipments
Friday, 27 Dec 2013 01:07pm EST 

Vale SA:Declares force majeure (FM) on a number of its iron ore contracts due to climatic conditions in the southeastern Brazil.Says high rainfall since Dec. 2013 in the southeastern Brazil, mainly in Espirito Santo state where floods and landslides have occurred, impacted the transportation of iron ore by EFVM railway and the operations in the Tubarao port.Says the company estimates a loss between three and four million metric tons in iron ore shipments in 2013, of which two million metric tons could be potentially retrieved in the first quarter of 2014.Says it will disclose further information related to the evolution of these events until the situation has been normalized.  Full Article

Vale SA sells entire stake in Log-in Logistica Intermodal SA
Thursday, 26 Dec 2013 02:22pm EST 

Vale SA:Says it has sold its entire stake, which corresponds to 28,737,356 shares, in Log-in Logistica Intermodal SA at the price of 8.11 Brazilian real per share.Says it will receive 233 million Brazilian reais for the transaction.  Full Article

Vale SA to sell 44.45 pct stake in Fosbrasil for $52 million
Thursday, 26 Dec 2013 08:13am EST 

Vale SA:Says it has signed a contract with Israel Chemicals Ltd for the sale of a 44.45 percent stake in Fosbrasil for $52 million.  Full Article

Vale SA signs agreement to sell additional stake in VLI
Monday, 23 Dec 2013 05:37pm EST 

Vale SA:Signs an agreement with an investment fund managed by Brookfield Asset Management for the sale of 26.5 pct of Vale’s stake in VLI SA, an integrated general cargo logistics company wholly owned by Vale, for R$ 2 billion.After the conclusion of the transactions with Mitsui, FI-FGTS and Brookfield, Vale’s stake in VLI will be of 37.6 pct.  Full Article

Vale SA updates on legal dispute over taxation
Monday, 23 Dec 2013 06:33am EST 

Vale SA:Files on Dec. 19, a petition to the Brazilian Superior Court of Justice (STJ) for a partial desistence of the legal dispute over the taxation of earnings of its subsidiaries outside Brazil.Says desistence covers the period from 2003 to 2012.  Full Article

Companhia Energetica de Minas Gerais Cemig's subsidiary creates joint venture with Vale SA
Friday, 20 Dec 2013 05:17am EST 

Companhia Energetica de Minas Gerais Cemig:Says its wholly-owned subsidiary, Cemig Geracao e Transmissao SA (Cemig GT) , signed on Dec. 19 commercial and corporate documents with Vale SA, which formalize establishment of a joint venture Alianca Geracao de Energia SA.Says Vale SA will assume a 55 percent stake in the new company and Cemig GT will be controlling the remainder.Says the joint venture will be comprised of Vale's and Cemig's stakes in six hydroelectric power plants, Porto Estrela, Igarapava, Funil, Capim Branco I and II, Aimores and Candonga, with a total installed capacity of 1,158 megawatts.Says, in a separate deal, that Cemig acquired nearly half of the 9 percent stake that Vale holds in a company called Norte Energia SA, which is implementing and then will operate the Belo Monte hydroelectric plant, for 206 million Brazilan reais.  Full Article

Vale SA announces debenture issue
Monday, 16 Dec 2013 05:39am EST 

Vale SA:Says on Dec. 16 it submitted to the Securities and Exchange Commission (CVM) a public offering request for the distribution of 750,000 non-convertible, simple debentures, in up to four series, at the nominal unit value of 1,000 Brazilian reais, totaling 750 million Brazilian reais.Says the value of the issuance can be increased by up to 35 percent, which is equivalent to 262,500,000 Brazilian reais.Says the issuance date is Jan. 15, 2014.Says the maturity date is Jan. 15, 2021 for debentures of the first series; Jan. 15, 2024 for debentures of the second series; Jan. 15. 2026 for debentures of the third series, and Jan. 15, 2029 for debentures of the fourth series.  Full Article

Vale SA concludes sale in Tres Valles
Sunday, 15 Dec 2013 05:07am EST 

Vale SA:Says it has completed the sale of Sociedad Contractual Minera Tres Valles (Tres Valles) for $25 mln to Inversiones Porto San Giorgio S.A.Says Tres Valles is a producer of copper cathode in the region of Coquimbo in Chile.  Full Article

Vale SA seeks minority partner for coal operations - Reuters
Thursday, 5 Dec 2013 10:50am EST 

Vale SA:Says it would seek to sell a minority stake in its coal operations, including Mozambique and Australia, adding it had already had expressions of interest from unnamed coal users and coal buyers - Reuters.Says it is looking to sell a stake of between 15 to 25 percent, but are flexible, depending on the proposal.  Full Article

China deepens ties to Brazil, plans to build railways

BRASILIA - China expanded its trade partnership with Brazil on Thursday with $7.5 billion in financing for Brazilian miner Vale, the purchase of 60 passenger jets from planemaker Embraer and renewed commitment to invest in infrastructure.

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