With miners freed, Vale turns back to rescuing ESG credentials
Sunday’s accident at the Sudbury mine is particularly jarring for a company still trying to reinvent itself as a responsible corporate citizen.
Sunday’s accident at the Sudbury mine is particularly jarring for a company still trying to reinvent itself as a responsible corporate citizen.
Vale CEO Eduardo Bartolomeo said an investigation would be launched into what happened.
Vale said no one is injured and expects everyone to be rescued by Monday night.
Oz Minerals has an option to purchase Vale’s share of the copper-gold project.
In the coming days, the company will file withdrawals and waivers for 15 remaining mining prospects.
Analysts led by Andreas Bokkenheuser cut the company’s American depositary receipts to sell from buy, a two step drop.
It is the company's largest payout since the 2019 dam collapse which killed almost 300 people.
Vale and Sul Americana de Metais S.A. have qualified for a new policy adopted by Brazil’s Jair Bolsonaro administration that aims to streamline the licensing process.
The Rio de Janeiro-based company said it’s targeting production capacity of 370 of million tonnes next year, compared with a previous 400 million tonnes goal.
Vale also sees its financial expenses in 2021 at $0.8-billion to $1.1-billion.