The world's top iron ore exporter, Brazil's Vale, is not excluding Chinese shipowners from transporting its iron ore and remains open to selling its huge dry bulk carriers to them, industry officials said on Wednesday.
Mining giant Vale (NYSE:VALE) is having second thoughts about going ahead with its $4 billion Apolo iron ore project in southeast Brazil, which may be affected by the federal government's decision to create a nature reserve in the area.
Vale, the world's second-biggest nickel producer, said on Thursday it would suspend sales and purchase agreements at its Goro project on the French Pacific island of New Caledonia after an accident at the mine's sulfuric acid plant.
Yanzhou Coal Mining Co. (1171) is among companies in talks to buy Vale SA (VALE5)’s stake in an Australian coal mine for more than A$500 million ($503 million), said people with knowledge of the matter.
Brazilian mining giant Vale (NYSE:VALE) announced the country's Superior Court of Justice ruled in favour of the federal tax authority in its appeal against an injunction granted in March suspending payment of taxes on overseas profits by the company.
“There is a new level of prices for iron ore globally,” Tito Martins, Vale CFO tells analysts in a conference call Friday.
Vale, the second largest mining company, fell to the lowest in over six weeks today, after reporting its third consecutive drop in quarterly profit driven by declining iron-ore prices and output.
Diversified miner BHP Billiton (NYSE:RIO) today became the third iron giant to join the new China Beijing Metals Exchange (CBMX), only a few days after competitors Vale (NYSE:VALE) and Rio Tinto (NYSE:RIO) did the same.
Brazilian mining giant Vale has taken the concept of mining diversification to a new level by announcing that it will start raising fish by its Sudbury, Canada, location.
Precious metals production at the Sudbury, Canada, operations for Brazilian diversified mining giant Vale plummeted in the first quarter, the company said Wednesday.