|Bid||13.30 x 21500|
|Ask||13.44 x 21500|
|Day's Range||13.18 - 13.46|
|52 Week Range||10.89 - 16.13|
|Beta (3Y Monthly)||0.06|
|PE Ratio (TTM)||19.17|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
RIO DE JANEIRO/SAO PAULO (Reuters) - Brazilian miner Vale SA on Thursday estimated selling up to 75 million tonnes less iron ore and pellets this year, after several mines were halted following its second deadly dam burst in less than four years. The estimate, which is 20 percent below its prior forecast, is the latest blow to Vale from the collapse at Brumadinho, which killed some 300 people and forced the world's largest iron ore exporter to fire its chief executive officer earlier this month. Chief Financial Officer Luciano Siani said in a call with analysts that under the most optimistic scenario, 2019 sales would decline about 50 million tonnes.
RIO DE JANEIRO/SAO PAULO, March 28 (Reuters) - Brazilian miner Vale SA on Thursday estimated selling up to 75 million tonnes less iron ore and pellets this year, after several mines were halted following its second deadly dam burst in less than four years. The estimate, which is 20 percent below its prior forecast, is the latest blow to Vale from the collapse at Brumadinho, which killed some 300 people and forced the world's largest iron ore exporter to fire its chief executive officer earlier this month. Chief Financial Officer Luciano Siani said in a call with analysts that under the most optimistic scenario, 2019 sales would decline about 50 million tonnes.
Moody's Investors Service ("Moody's") comments that the authorization that allows Vale S.A. (Ba1 negative) to return operations at the Brucutu mine is credit positive, as it represents 30 million tons of iron ore output on an annual basis (8% of Vale's total production capacity). The ability to maintain iron ore production levels is one of the major risks faced by Vale following the Brumadinho accident, since it affects its cash flow and ultimately its credit quality. This publication does not announce a credit rating action.
Why Analysts Expect Alcoa’s Earnings to Fall Sharply in Q1(Continued from Prior Part)Steel Last year, alumina prices surged to record highs. US sanctions on RUSAL coupled with the closure of Norsk Hydro’s Alunorte refinery lifted alumina prices.
The FTSE 100 was little changed by session end, lagging its peers on Wall Street and in Europe, while mid-caps gave up 0.3 percent. Miners lost 1.2 percent after Vale SA said it expected to resume operations at its Brucutu mine within 72 hours. London-listed shares in Rio Tinto fell 2.7 percent and BHP, the world's biggest miner, gave up 2.5 percent after cutting its iron ore output target following a tropical cyclone.
A Brazilian court has authorized miner Vale SA to resume operations at Brucutu mine, its largest in the state of Minas Gerais, according to a city hall official in Sao Goncalo do Rio Abaixo, where Brucutu ...
Federal police are serving five search warrants in connection with a Brazilian investigation into a deadly tailings dam failure at a mining site operated by Vale SA, a source with knowledge of the matter told Reuters on Tuesday. According to the source, all warrants were issued by the ninth federal court in Belo Horizonte, capital of the Minas Gerais state. The raids are being carried out in Minas Gerais, São Paulo and Rio de Janeiro, the source said.
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A decision by Brazilian mining company Vale SA to halt production at ten sites in Minas Gerais state following a deadly dam disaster has affected deliveries of iron ore pellets to clients, newspaper Valor Econômico reported on Monday, citing industry sources. Vale is trying to resolve the problem by bringing iron ore pellets produced in the northeastern state of Maranhão to clients in the southeast. Marco Polo Lopes, president of lobby group Aço Brasil, told the newspaper the situation could force other steelmakers to halt production if nothing is done to normalize supplies.
Is the Party Just Getting Started for Iron Ore Miners?(Continued from Prior Part)Barclays upgrades iron ore price forecast Barclays is optimistic about the iron ore price outlook given the supply disruptions from Australian miners as well as Vale’s
Is the Party Just Getting Started for Iron Ore Miners?(Continued from Prior Part)Credit Suisse As iron ore supply disruptions, at least from Vale (VALE), don’t look likely to go away easily, analysts have started another round of upgrades for iron
Investigators have gathered enough evidence to affirm that Vale employees involved in the mine operation knew the dam was unsafe, the report said, quoting Jose Adercio Leite Sampaio, the prosecutor heading the probe. "At this point, we know that the operational side knew [that the dam was at risk of collapse], but did Vale's directors know?" Sampaio said in an interview with the Journal. Vale continues cooperating fully with the authorities to ascertain the facts related to the dam breach," Vale said in response to a Reuters query.
Is the Party Just Getting Started for Iron Ore Miners?(Continued from Prior Part)Vale’s dam disasterVale’s (VALE) iron ore production and shipments estimates have been negatively impacted by the dam burst on January 25. You can read Vale’s Q4
Is the Party Just Getting Started for Iron Ore Miners?Iron ore prices touch five-year high Iron ore prices are again touching multiyear highs. According to the Metal Bulletin, the benchmark iron ore prices (62% iron ore content) surged to ~$95.3 per
Brazil's Vale SA said on Tuesday a London arbitration court had ordered BSG Resources Limited to pay the iron ore miner $1.246 billion related to a dispute between the companies over a joint venture in ...
Latin American currencies firmed on Monday, helped by a soft dollar as global risk appetite rose, while equities in Latin America climbed on gains clocked in each of the region's countries, especially ...