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Brazils Vale halts iron ore operations due to heavy rains, maintains ...
Mon, 10 Jan 2022 00:00:00 GMT
Brazilian miner Vale said on Monday it has partially halted operations at its Southeastern and South iron ore systems due to heavy rains that are affecting the state of Minas Gerais, but reiterated 2022 production guidance as the Northern system was not affected. Vale said in a securities filing that train circulation at its Vitoria-Minas railway was partially interrupted following the rains, which led output to be halted at the Brucutu mine and the Mariana complex as it was unable to

Brazils Vale restarts licensing process for Apolo iron ore project
Thu, 25 Nov 2021 00:00:00 GMT
Brazilian miner Vale VALE3.SA has restarted the process of acquiring environmental licenses for its Apolo iron ore project in the state of Minas Gerais following a major revision of the original plan, the company said in a presentation on Tuesday. The plans for the project, which has a capacity of 14 million tonnes per year and a lifespan of 29 years, have been revised to reduce its environmental impact, the company said. According to the presentation made to the Minas Gerais state assembly,

Vale, Voestalpine, TKS explore steel decarbonization routes
Tue, 02 Nov 2021 00:00:00 GMT
Brazils Vale, Voestalpine, Thyssenkrupp and other steel and mining companies are navigating routes and new markets to decarbonize the steel sector, as renewable power generation and suitable iron ores remain key obstacles for slashing emissions. Companies including ArcelorMittal, BHP, Rio Tinto and Bluescope are broadening a transformative approach to their steel-related business by exploring

Miner Vale to slow down iron ore production in Q4 due to low ...
Thu, 21 Oct 2021 00:00:00 GMT
Brazilian miner Vale SA said on Tuesday it was slowing down production of low-margin iron ore in the fourth quarter by about 4 million tonnes due to low prices, and could cut back output in 2022 if prices did not rise. Vale said in a securities filing that iron ore output for the year is now expected to fall within the lower half of its target range, currently set at between 315 and 335 million tonnes. The miner added that it would reduce its offerings of low-margin products in 2022

Brazils Cosan to make iron-ore mining debut
Wed, 25 Aug 2021 00:00:00 GMT
Brazilian energy group Cosan SA has decided to enter the mining segment in a joint venture with Aura Minerals controlling shareholder to explore and transport iron ore, it said in a securities filing on Monday. Cosan said it and a unit of Paulo Brito Group, founder and controlling shareholder of Aura, will co-control the new company, which will be headed by former Vale SA and CSN SA executive Juarez Saliba de Avelar. The move by Cosan comes as iron ore prices reached a record high in the

Ternium (TX) Signs MoU With Vale for Steelmaking Solutions
Mon, 23 Aug 2021 00:00:00 GMT
Ternium (TX) and Vale plan to develop economic feasibility studies of potential investments in an iron ore briquetting plant in the Brazil

Vale confident on 2021 iron ore guidance, though recovery still ...
Mon, 02 Aug 2021 00:00:00 GMT
Executives at Brazilian iron ore miner Vale said July 29 they were confident the company will reach its 2021 iron ore production guidance as it will be aided in H2 by seasonal factors and mine capacity advances. Still, the company is currently operating at the lower range of the 315 million mt-335 million mt guidance, executive vice president, ferrous minerals, Marcello Spinelli said during a Q2 results call with investors. Iron ore fines production reached 75.7 million mt in Q2, which was

Brazils Vale revises down year-end iron ore output
Sat, 31 Jul 2021 00:00:00 GMT
Vale SA flagged potential production setbacks amid temporary issues at multiple iron ore mines, but executives said the Brazilian miner was still on track to ramp up output in the second half of the year. In a presentation released on Thursday morning, the worlds second largest iron ore producer revised down its guidance for year-end production capacity to 343 million tonnes per annum from 350 million tonnes previously. Among the issues holding back production, Vale said, are licensing

Vale (VALE) Q2 Earnings Beat, Rise Y/Y on High Iron Prices
Fri, 30 Jul 2021 00:00:00 GMT
Vale (VALE) reports stellar second-quarter 2021 earnings on higher iron ore sales volumes and prices. It maintains its iron-ore production guidance of 315-335 million tons for

Vale (VALE) to Spend $121M to Extend Life of Thompson Mine
Wed, 30 Jun 2021 00:00:00 GMT
Vale S.A (VALE) is investing C$150 million ($121 million) in Thompson, Manitoba operations, the largest single investment made by the company in the past two

Gaines sees little global iron ore production growth
Tue, 01 Jun 2021 00:00:00 GMT
Fortescue Metals Group boss Elizabeth Gaines has hosed down concerns that the revival of Brazilian producer Vale or China backing development of the Simandou deposit in west Africa will crimp Australias economy-defining iron ore exports. Ms Gaines told the Australian Shareholders Association conference that Simandou was a very complex project and its likely development was coinciding with a drop in Chinas domestic iron ore production. The Fortescue chief executive sees the market

Iron Ore Price Caves But Miners Remain Hugely Profitable, For ...
Tue, 25 May 2021 00:00:00 GMT
Chinese Government pressure on steel mills and commodity traders started to pay off earlier today when the iron price fell below $200 a ton for the first time in three weeks. But the fall to $197/t is unlikely to put more than a dent in the profits of the biggest iron ore miners which are producing the steel-making material at a cash cost of less than $20/t. Even after allowing for all costs companies such as BHP Group, Rio Tinto, Vale and Fortescue Metals, are still generating profits of

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