|Bid||0.00 x 0|
|Ask||48.00 x 0|
|Day's Range||48.13 - 48.13|
|52 Week Range||40.51 - 62.42|
|Beta (3Y Monthly)||1.16|
|PE Ratio (TTM)||17.51|
|Earnings Date||Oct 25, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||17.29|
Chile's peso weakened 1.4%, falling for the fourth straight session and leading declines among Latam currencies. The currency has lost around 5% over the last three weeks amid massive local protests, which among other demands, have called for a revision to the Chilean constitution. In Bolivia, President Evo Morales stepped down after weeks of protests over a disputed Oct. 20 election, as a report from the Organization of American States revealed serious irregularities in the ballot.
A federal court in Brazil said it could annul Vale SA's acquisition of midsize iron ore miner Ferrous Resources until certain environmental compliance documents have been provided, giving the company 30 days to do so, according to a decision seen by Reuters on Wednesday. A Vale spokeswoman said the iron ore miner had not been informed of the decision and that it would adopt "appropriate measures" at the proper time. It said at the time the halt did not affect the Viga mine and that the documents issue did not suggest any problems with the mine's tailings dam - a sensitive topic for Vale since the collapse of one of its mining dams killed at least 250 people in January.
A Brazilian mining joint venture between Vale SA and BHP Group Plc, paralyzed after a fatal dam collapse, is expected to resume talks to restructure $4 billion in defaulted debt in coming weeks, two sources with knowledge of the matter said. The venture, Samarco Mineracao SA, last month won permission to resume operations at its Germano iron ore mine, four years after a dam burst in the city of Mariana, in Minas Gerais state, that killed 19 people and contaminated rivers. Vale is being advised in the talks by Moelis & Co, BHP Plc by Rothschild, and Samarco by JPMorgan Chase & Co , according to the sources.
In a securities filing, the company said the resumption of mining activities at Alegria will allow the iron ore exporter to restore 8 million tonnes of 50 million in capacity lost after the collapse of its Brumadinho dam in January caused a series of shutdowns. The mine's resumption will add up to 1 million tonnes to production volumes in 2019, but should not impact sales this year, which the company still expects to come in between the lower and midpoint of its previously announced range of 307 million to 332 million tonnes. Vale shares rose 2.7% during Friday trading as BTG Pactual analyst Leonardo Correa called the resumption "yet another de-risking event" for the company, reiterating his "buy" rating.
A global inquiry into how mining companies store billions of tonnes of waste in huge dams, launched after a collapse in Brazil killed hundreds, shows about a tenth of the structures have had stability issues, investors said on Thursday. The research was led by the Church of England (CoE) and fund managers after the collapse of a Vale dam in January unleashed an avalanche of mining waste on the Brazilian town of Brumadinho, killing an estimated 300 people. The investor review, which found at least 166 dams have had stability issues in the past, relied on companies' disclosures about their dams holding mining waste, known as tailings.
Higher demand in low-sulphur heavy crude ahead of new rules on shipping fuel is helping to boost the profit of Mitsui & Co as the Greater Enfield project in Australia began production in August as scheduled, the Japanese trading house's CEO said on Thursday. "The timely start of production of fine-quality low-sulphur heavy crude at the upstream project had also a ripple effect to our energy trading unit in Singapore," Mitsui Chief Executive Officer Tatsuo Yasunaga told an analyst meeting. A Mitsui executive said in March that the company will produce more heavy crude oil this year once projects in Australia and Italy are completed, in part boosting its ability to provide low sulphur marine fuel.
A global inquiry into how mining companies store billions of tonnes of waste in huge dams, launched after a collapse in Brazil killed hundreds, shows about a tenth of the structures have had stability issues, investors said on Thursday. The research was led by the Church of England (CoE) and fund managers after the collapse of a Vale dam in January unleashed an avalanche of mining waste on the Brazilian town of Brumadinho, killing an estimated 300 people. A waste, or tailings dam, is the most common waste disposal method for mining companies, whether they're extracting iron ore, gold or copper.
Vale SA's chief executive officer said on Friday that a resumption in paying dividends or share buybacks would depend on progress in repairing the damage from its Brumadinho tailings dam collapse, which killed more than 250 people. Eduardo Bartolomeo told investors on a conference call the Brazilian iron ore miner would be able to resume dividend payments at some point, but that "that moment has yet to arrive". Bartolomeo was speaking a day after Vale reported a weaker-than-expected 15% third-quarter earnings gain as the company struggles to restore production lost after regulators demanded that it shut down a series of other dams for safety reasons.
Brazilian stocks surged Tuesday after the country's Senate approved major social security reforms. Trade Brazilian stocks using these ETFs.
The recent departure of a senior official at Brazilian development bank BNDES does not change the bank's strategy and was part of the normal turnover at the institution that oversees privatizations, its chief executive said on Friday. "Nothing changes in the bank's strategy, nothing changes in its plans," Gustavo Montezano said in a statement to reporters. Two people with knowledge of the matter told Reuters on Thursday that the majority of BNDES' board voted to dismiss director Andre Laloni, who requested a leave of absence last week amid disagreements over asset sales.
The real fell 0.7% to the 4.1262 per dollar level, on track for its biggest percentage decline in a week, while the Chilean peso and the Peruvian sol also edged lower. Late on Friday, Washington and Beijing outlined the first stage of a trade deal and suspended this week's scheduled U.S. tariff hikes on Chinese goods, sparking a rally in risk assets including emerging market currencies and stocks. Bloomberg reported on Monday that China wants more talks to hammer out the details, including scrapping the planned tariffs in December, before it signs the partial deal.
Brazil's Vale SA said on Monday its third-quarter iron ore production was up from the previous quarter but still down 17.4% from a year ago, as the miner slowly began to resume production at mines that were shut down following a deadly dam burst in January. The company produced 86.704 million tonnes in the July-September period, up more-than two-thirds from the second quarter as operations resumed at Brucutu, its largest mine in the southeastern state of Minas Gerais, and at part of its Vargem Grande complex. In a securities filing, the world's top iron ore exporter added it expects to lift production capacity to around 50 million tonnes at its Vargem Grande complex by the end of 2021.
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Oct 8 (Reuters) - Latin American currencies were mixed on Tuesday with Brazil's real bouncing back from its steepest drop in more than two weeks, while stock markets in the region declined on fading hopes for progress in the upcoming U.S.-China trade talks. Reports that the Trump administration was moving ahead with discussions around possible curbs on capital flows into China and Beijing would cut short the stay of its delegation by one night kept investors nervous about the outcome of the trade talks, scheduled for Oct. 10-11. The Brazilian real edged up 0.4% after shedding about 1.2% on Monday following a report Brazilian Economy Minister Paulo Guedes would leave in February.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Navios South American Logistics Inc. London, 04 October 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Navios South American Logistics Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
RIO DE JANEIRO/BRASILIA, Oct 2 (Reuters) - Brazilian miner Vale SA on Wednesday said it expects to finish paying for most of the expenses related to the disaster at one of its facilities that killed at least 250 people by 2021. In securities filings, Vale laid out its expectations for expenses related to the rupture of a mining dam at its facility in the town of Brumadinho in January, which released a torrent of mud burying buildings and people. Vale faces a variety of legal actions related to the disaster including lawsuits in Brazil, U.S. class actions and Brazilian exchange regulator probes.