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Amid falling prices, Vale confident of iron ore upside

The recent softening of iron ore prices will likely be short-lived, says the world's largest exporter of the steelmaking ingredient. In releasing its third-quarter results, Brazil-based Vale SA (NYSE:VALE) is forecasting high prices "for a long period ahead" because of growing demand from developing countries and constraints to supply growth. The iron ore giant therefore indicated it needs to stay ahead of the game for when the price rise demands a quick reponse:

Andrew Topf | October 28, 2011 | 11:13 pm

China steel mills force Vale to bend over iron ore pricing

The world's number one iron ore producer Vale is considering shifting from iron ore pricing based on the previous quarter’s prices to levels more aligned with the spot price the company's chief executive said on Tuesday. The Brazilian company's new willingness comes after more Chinese steel mills seek to postpone shipments or default on contracts as spot iron ore prices drop from historic highs above $170 to levels of around $150. BHP, Vale and Rio Tinto control nearly 70% of the 1 billion tonne annual iron ore seaborne trade and dominate price talks which in the past were characterized by secretive negotiations and annual contracts. Just last week global number one miner BHP Billiton announced plans to create a new, more transparent system for pricing iron ore called Global Ore by the end of the year or early next year.

Frik Els | October 18, 2011 | 7:12 pm

Strict environment rules for Vale’s new $1.3 billion Malaysia iron ore mine

At a ground breaking ceremony the State Chief Minister assured Malaysians that the development of the 180ha iron ore project in Teluk Rubiah, Manjung – a popular tourist area – will not bring any detrimental environmental impact as there will be stringent Environmental Assessment Impact (EIA) procedures to be followed. Brazil's Vale is investing an initial US$1.37 billion, or RM4.07 billion, to develop the first phase of an iron ore complex with capacity to dock vessels and handle as much as 30 million tonnes of iron ore a year, starting in the first half of 2014.

Perak News | October 8, 2011 | 10:06 pm

Kiska intersects 1.28 g/t gold equivalent over 161 metres at Island Mountain

Kiska Metals (CVE:KSK) Thursday said it intersected 1.28 g/t (grams per tonne) gold equivalent over 161 metres at hole IM11-020 at Island Mountain in the Whistler project, Alaska.

Proactive Investors USA | October 6, 2011 | 5:28 pm

Vale to concede 35% of Simandou to Guinea

Vale SA will likely hand over 35% of its Simandou iron ore project to Guinea. The Wall Street Journal (sub required) is reporting that Vale, one of the top three producers of iron ore, is working on an accord whereby the company concedes 35% of the Simandou project to the Guinean government. The accord falls in line with the country' new mining laws, which allow the government to increase its stake in mining projects from 15% to 35%.

Andrew Topf | October 3, 2011 | 8:57 pm

Amazon caves may block Vale iron ore mine

Vale, the world's second-largest mining company, may be unable to develop a massive new iron-ore mine in the Amazon after archeologically and environmentally sensitive caves were found at the site, the Estado de S. Paulo newspaper reported on Sunday. The

Sydney Morning Herald | October 2, 2011 | 8:13 pm

Vale’s 3rd VLOC to serve Brazil – Italy iron ore trade

Miner Vale will take delivery of another 400,000 DWT VLOC next month, its third after the ‘Vale Brasil’ and ‘Vale Rio de Janeiro.’ Surprisingly, the first of Vale’s mega-bulkers to be named for a foreign trading partner does not carry the name

Hellenic Shipping News Worldwide | September 28, 2011 | 2:31 pm

Vale: Robust China steel output to keep iron ore mkt tight

QINGDAO, Sept 28 (Reuters) - Brazilian mining giant Vale said China's crude steel production was expected to remain strong despite risks of a recession in developed economies, a trend that would...

Reuters | September 28, 2011 | 3:59 am

Vale, BNDES and Logos Tecnocom develop unique pig iron production technology in Brazil

Following extensive research that began more than 35 years ago, Tecnored Desenvolvimento Tecnológico, a Vale company, in partnership with Brazil’s development bank, BNDES, and Logos Tecnocom, has started up the first pig iron demonstration plant that does not use traditional blast furnace methods, in Pindamonhangaba, São Paulo state. The innovation enables higher productivity, lower emissions of CO2 and particulate matter, the flexible use of raw materials, and a reduction of up to 30% in the cost of steel production.

International Mining | September 26, 2011 | 7:14 am

Vale’s borrowing costs hit record high as Brazil doubles mine royalties

The cost of borrowing for Brazil's Vale has risen to record highs relative to competitors BHP Billiton and Rio Tinto, as the Brazilian government looks to reap more in mining taxes amid surging metals prices, Bloomberg is reporting: The world’s largest iron-ore mining company’s dollar bonds due in 2019 yielded 4.22 percent, a record 152 basis points more than similar-maturity bonds from higher-rated BHP. The yield gap has swelled 61 basis points, or 0.61 percentage point, this year. The spread over Rio Tinto Group bonds reached 84 basis points yesterday after averaging 51 points in the first seven months of 2011.

Andrew Topf | September 13, 2011 | 10:17 pm

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