Vale Indonesia eyes 2026 completion for nickel HPAL plant
The plant in Pomalaa, in Southeast Sulawesi province, is expected to produce 40,000 tonnes of mixed sulphide precipitate.
The plant in Pomalaa, in Southeast Sulawesi province, is expected to produce 40,000 tonnes of mixed sulphide precipitate.
Vale expects to boost productivity and safety by using the trucks to haul iron ore at the Carajas complex.
Drilling has delineated a strong Main zone close to the Valentine Lake shear zone.
Samarco filed for bankruptcy protection in April as it failed to restructure its debt.
Iron ore shipments from the Ponta da Madeira port in São Luís were 18% lower than expected in July, according to Marine Traffic.
About 85% of members of USW Local 6500 voted in favour of Vale’s latest five-year contract offer.
The five-year agreement includes "significant monetary improvements for existing members."
The company revised down its guidance for year-end iron ore production capacity to 343 million tonnes per annum from 350 million tonnes previously.
Vale reported a Q2 net income of $7.586 billion, up over 600% from the same period a year ago, but slightly below the Refinitiv consensus estimate of $7.67 billion.
The company churned out 75.7 million tonnes in the second quarter compared with the 78 million tonnes average estimate among analysts tracked by Bloomberg.