Vale eyes steel projects to boost Brazil market share
The mining giant has experienced a loss in market share and is losing its position as dominant iron ore supplier to Brazil […]
The mining giant has experienced a loss in market share and is losing its position as dominant iron ore supplier to Brazil […]
Brazilian mining giant Vale sees iron ore prices for clients remaining flat in the third quarter compared to the second quarter, Vale […]
Today, Vale is pleased to announce a $100,000 gift to the Ma-Mow-We-Tak Friendship Centre in Thompson, Manitoba. This support will enable the Friendship Centre to provide enhanced programming to Aboriginal and non-Aboriginal members of the community.
The Ma-Mow-We-Tak Friendship Centre recently finished building a brand new, 20,422 square foot facility to house its various service and programs under one roof. Life skills, recreation and employment, as well as education and training are specific areas of focus for the Centre. Vale's contribution will help to outfit the new space with modern recreational and technical equipment allowing the Centre to continue delivering relevant and effective programs and services.
This month, Vale opened its first nickel operation in Brazil. Onça Puma, in Ourilândia do Norte, southeast Pará, is one of the largest ferronickel production plants in the world. The project, which covers the municipalities of Ourilândia do Norte, Tucumã and Parauapebas, has an annual production capacity of 220,000 tons of ferronickel, containing 53,000 tons of nickel, a highly valued product in the steel industry. Read more
Taipei Times reports: Brazilian mining giant Vale opened a new US$1.7 billion coal mine in Mozambique yesterday, tapping the southern African country’s thermal and coking coal reserves of about 23 billion tonnes. Vale plans to start production in July and export 1 million tonnes of coal from the US$1.7 billion project this year, ramping up production to 11 million tonnes in a few years — and, local officials hope, boosting Mozambique’s current economic growth of 6.5 percent.
Despite adverse weather conditions and natural disasters, Vale reported pellet output reached a record 12.5 Mt. for the first quarter of the year, up 19.3% from 10.5 Mt reported during the same period of last year. Iron ore production in the first quarter reached 71.5 Mt., a 3.7% increase over the same quarter of 2010. "For 2011 we continue to pursue the goal of 322Mt including the 11 Mt attributable production from Samarco," the company said.
A robust gold price, new West African production, and strong performance from mining operations contributed to a 42% increase in revenue and an 81% increase in adjusted net earnings for Kinross Gold during the first quarter. Meanwhile, Kinross has increased 2011 full year-production guidance to 2.67 million - 2.7 million gold equivalent ounces as a result of increasing the company's Kupol interest to 100%.
Brazilian mining giant Vale SA is in talks with Liberian government over the reconstruction of a hydro power plant in West African nation's, Liberia president said on Monday. "The discussions with Vale are still going on. There are too many issues related to this discussions," Ellen Johnson Sirleaf said on the sidelines of a three-day oil, gas and mineral resources conference in the country's capital Monrovia.
Exploration Orbite (TSX VENTURE:ORT.A) is pleased to announce the presence of high-value by-products such as scandium, gallium and other important rare earth elements in its Grande-Vallée deposit, all of which offer strong economic potential for the company and for Canada. The Company is also pleased to announce its filing of a provisional U.S. patent application that extends protection for its existing patented technology to the extraction of scandium, gallium and other rare earth elements from aluminous clay.
Brazil's Vale (VALE5.SA: Quote), the world's largest producer of iron ore, has made an offer to acquire South African miner Metorex Ltd (MTXJ.J: Quote) for 7.5 billion rand ($1.13 billion), the two companies said on Friday. "Under the terms of the offer, if implemented, the Metorex shareholders will receive a cash consideration of 7.35 rand per share," the companies said in a joint statement.