Two of Vale's massive Valemax carriers were in Subic Bay, Philippines for just under a month transferring cargo to smaller ships to carry iron ore onto China, because the 400,000 tonne vessels may not dock at Chinese ports.
Using the dismal science to make forecasts and taking risks with real money are two very different things. And the Brazilian giant is definitely putting its money where its mouth is.
Vale — the second largest nickel producer in the world — plans to begin looking for nickel this year on the Melville Peninsula near Repulse Bay, Nunavut.
According to website VesselsValue.com the latest Valemax is worth 36% less than the $107 million the Brazilian iron ore titan paid for it last year because of a "slump in values of dry-bulk ships that were ordered before returns plunged."
About 100 members of Jaringan Aktivis Alam Sekitar Perak JAASP, an environmental non governmental organization, staged a demonstration against the operation of an iron ore processing company, Vale SA, in Teluk Rubiah, Seri Manjung near here.
The move will allow the London-listed miner to sell non-contracted iron ore directly into China through the electronic trading platform.
Dominique Delorme, President and CEO of La Mancha, noted: "Having quadrupled our resource base to nearly 5 million ounces of gold equivalent since 2007, it is exciting to see that this appears to only be the beginning, as we are just starting to scratch the potential at our Hassaï property, where nine more VMS targets remain to be explored."
A legal clash between Brazilian mining giant Vale (NYX:VALE) and Australia's Aquila Resources (ASX: AQA) has taken a step towards resolution this morning after the companies announced they’ve reached an agreement on coal shipments from their co-owned Isaac Plains mine in Queensland.
Vale SA (VALE3), Brazil’s biggest exporter, has shut a railroad that transports production from the world’s largest iron ore mine after a construction accident.
Brazilian mining company Vale SA (VALE, VALE5.BR) halted iron ore and passenger transport for an undetermined period on a stretch of its Carajas railroad in north Brazil after an accident occurred during bridge construction work, Brazil's Radio CBN...