United States

Christian Plumb

Vale CEO sees stronger third quarter after Brazil dam burst charges

Aug 01 2019

RIO DE JANEIRO/SAO PAULO Brazil's Vale SA is expecting its results to improve in the third quarter after the company surprised analysts by posting a quarterly loss because of writedowns related to a deadly dam burst in January, its chief financial officer said on Thursday.

Brazil's Vale dam disasters trigger $2 billion in fresh writedowns

Jul 31 2019

SAO PAULO Brazilian miner Vale SA on Wednesday said it swung to a quarterly loss as the company announced more than $2 billion in fresh writedowns related to two deadly dam bursts suffered by the company over a period of less than four years.

Brazil's Cielo cutting costs to face fiercely competitive market

Jul 15 2019

SAO PAULO, July 15 Brazil's largest credit card processor, Cielo SA, is tightening its belt amid fierce competition with rivals like PagSeguro Digital Ltd and StoneCo Ltd to boost profitability and free up money for new products.

Canada's Belo Sun touts procedural win but Brazil gold mine still on hold

Jul 12 2019

SAO PAULO/Brasilia Belo Sun Mining Corp said on Friday it had won a legal victory in its push to mine the country's largest undeveloped gold deposit in the Amazon rainforest, which has drawn criticism from environmentalists and indigenous advocates.

Brazil to auction mining rights for about 1,000 areas this year: regulator

Jul 08 2019

BRASILIA Brazil plans to put about 1,000 mining areas up for auction this year including areas containing gold, copper and iron ore, a director of the country's National Mining Agency (ANM) told Reuters on Monday.

Brazil Senate panel says Vale CFO, ex-CEO should be indicted for murder

Jul 02 2019

BRASILIA/SAO PAULO Iron ore miner Vale SA's chief financial officer and its former chief executive should be indicted for murder, a Brazilian Senate committee probing a deadly dam collapse recommended on Tuesday.

Vale CFO says hopes to restore lost output within two to three years

May 10 2019

RIO DE JANEIRO/SANTIAGO Brazilian miner Vale SA expects to restore capacity lost after the deadly Brumadinho tailings dam burst within two to three years, executives said on Friday, emphasizing that the company is not rushing to resume full output.

Brazil's Vale swings to loss as dam burst charges near $5 bln

May 09 2019

SANTIAGO/RIO DE JANEIRO Brazil's Vale SA set aside $4.95 billion to pay for costs from the collapse of its Brumadinho tailings dam, driving the world's top iron ore miner deep into the red as it reckoned with the aftermath of one of the country's deadliest industrial disasters.

Brazil's Vale announces writedowns, profit after dam disaster

Mar 27 2019

SAO PAULO Brazilian iron ore miner Vale on Wednesday announced a series of writedowns and provisions related to the Brumadinho tailings dam collapse that killed some 300 people two months ago, saying there would be an affect on future results.

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