Petrobras inks deal to supply Vale fuel with renewable content
Petrobras and Vale are two of Latin America's largest companies by market value.
Petrobras and Vale are two of Latin America's largest companies by market value.
Vale plans to replace copper production from the depleting Sossego open pit mine with output from Bacaba by 2026.
Cosan is a Brazilian commodity giant with a stake of just over 4% in Vale.
The company, one of the world's largest iron ore producers, reported output of 90.97 million metric tons in the three months through September.
Rogerio Nogueira, Vale's current director of product and business development, was appointed to fill the role on an interim basis.
Vale estimated it to have a preliminary impact of 1,500 to 2,000 metric tons on its fourth quarter nickel production.
The fund is backed by Vale and Brazil’s development bank BNDES.
The company sees copper and nickel as part of the transition.
About 80% of Gustavo Pimenta’s compensation is tied to achieving specific targets.
They will assess the feasibility of building a green hydrogen plant in Brazil, which would eventually supply one of Vale’s mega hubs.