Iron ore rally defies gloomy Chinese economic outlookMon, 04 Sep 2023 00:00:00 GMT
Iron ore prices have rallied despite flagging steel demand from the ailing Chinese property sector as Chinese mills maintain output in the absence of a firm government production cap and replenish low inventories of the raw material. The rising prices are a boon for global miners such as Vale and BHP and bolsters BHPs view from last week that China, the worlds biggest iron ore consumer and steelmaker, will still produce more than a billion tons of steel this year. The surge runs counter to
Brazilian miner Vale grows iron ore output by 6%, sales flatWed, 19 Jul 2023 00:00:00 GMT
Brazilian miner Vale posted 6.3%growth in second-quarter iron ore production, compared to the same period last year, the company announced in a securities filing on Tuesday. Vale said it mined 78.7 million metric tons of the key steel-making mineral during the April-to-June period. Compared with iron ore production during the first quarter, output was up nearly 18%. Second quarter sales, however, were mostly flat from the year-ago period at 63.3 million tons. The gap between production and
Vales first-quarter iron ore output grows 5.8%Thu, 20 Apr 2023 00:00:00 GMT
Brazilian miner Vale SA reported on Tuesday a 5.8% year-on-year increase in first-quarter iron ore production, boosted by its key S11D project. The company produced 66.77 million tonnes of iron ore during the first three months of 2023, it said in a securities filing. Comparing with the previous quarter, iron ore output fell 17.4%. Vale said the yearly growth was driven by a stronger operational performance at its S11D mine in northern Brazil and lower rainfall in the state of Minas Gerais.
Ukraine: Metinvest prolongs CEO offices at enterprisesFri, 07 Apr 2023 08:49:51 GMT
Supervisory boards of Pokrovskoye Mine Group, Avdiivka Coke and Chemical Works, Zaporozhogneupor and Mine-Construction Group No. 1 have prolonged the offices of their CEO for another year. Thus, Pokrovskoye MG prolonged the office of its CEO Valeriy Yakovenko from April 5 to April 2, 2024. The acting CEO of Avdiivka Coke Yuri Ktsinenko will
Vale to increase high-grade iron ore output in tightening marketWed, 01 Mar 2023 00:00:00 GMT
Brazilian miner Vale SA said its production of high-grade iron ore agglomerates is expected to increase in coming years as it sees the average premium for better quality rising in a tightening market. Vale said in a presentation to analysts its output of high-grade agglomerates is set to reach 50 million to 55 million tonnes in 2026, up from 32 million in 2022, before jumping to about 100 million tonnes post-2030. The mining giant noted that segmentation and supply challenges in the global
Vale CEO says iron ore miner will spin-off copper, nickel unitSun, 23 Oct 2022 00:00:00 GMT
The chief executive of Vale SA said the Brazilian iron ore miner is reconsidering a near-term spin-off of its base metals business and an eventual public listing. The Brazilian miner had a longstanding plan to sell the unit that was still being considered as recently as 2021. But rather than selling all or part of it, the company is now looking to separate and ring-fence the copper and nickel unit from the iron ore business as the two have different growth prospects, Eduardo Bartolomeo said
Vale, Saarland mills team up for decarbonisationMon, 10 Oct 2022 00:00:00 GMT
Vale and the two mills in Germanys Saarland state will together explore solutions on carbon-neutral steelmaking processes, Kallanish hears from the Brazilian mining group. To this effect, Vale has signed a memorandum of understanding with Stahl-Holding-Saar (SHS) GmbH & Co, the holding of platemaker Dillinger and special bar qualities mill Saarstahl. The partners intend
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