Nickel price surge may have Vale reworking its base metal calculations
Prices have doubled in the past five trading days as intensifying fears over Russian supplies leave buyers exposed to a historic squeeze.
Prices have doubled in the past five trading days as intensifying fears over Russian supplies leave buyers exposed to a historic squeeze.
The train circulation in its Carajas iron ore mine railroad was temporarily halted due to a land movement caused by heavy rains.
The company will also undertake a series of obligations to remove all of its upstream tailing dams.
The miner sees the geopolitical crisis boosting the premium that steelmakers pay for iron ore pellets.
Miner reported fourth-quarter net profit of $5.4 billion, above analyst forecasts of $4.7 billion.
The copper, nickel and precious metals venture in Sudbury, Ontario, had its operations halted in September.
The Brazilian miner told regulatory bodies it was "technically impossible" for it to meet Minas Gerais' current Feb. 25 deadline.
The mining giant backed out after its lawyer told the High Court on Monday that its claim was brought out of time.
Vale was expected to overtake its main rival in the fourth quarter, but reported a disappointing 82.5 million metric tonnes of production.
The Brazilian miner lost the title of top iron ore supplier to Rio Tinto in the wake of a tailings dam disaster three years ago.