Brazilian court authorizes Vale to resume ops at Brucutu mine
A Brazilian court has authorized Vale to resume operations at the Brucutu mine, its largest in the state of Minas Gerais.
A Brazilian court has authorized Vale to resume operations at the Brucutu mine, its largest in the state of Minas Gerais.
Vale's situation could force other steelmakers to halt production if nothing is done to normalize supplies.
The joint venture intended to explore for iron assets at the Simandou prospect, but the concession was revoked in 2014 by Guinea's government.
Vale SA has opened negotiations with prosecutors and families of victims of the deadly January dam disaster.
A group of minority shareholders in Vale SA has proposed an alternative board member and to change the board election to a cumulative voting system.
With a market facing a global deficit, the world’s biggest iron ore export port is flagging a timely boost in shipments as Fortescue and rivals bring on new mines in Australia’s Pilbara region.
German auditing firm TÜV SÜD AG has appointed a former Petroleo Brasileiro SA executive to head up its Brazilian subsidiary.
Iron ore prices in China reached a record high on Tuesday as market participants wrestled two dilemmas, namely the weather-related disruptions from Australia and the safety outages in Brazil.
Lower production this year is due to a 10-week shutdown started in mid-February to the third week of April.
The decision comes on the same day a Brazilian court froze an additional 1 billion reais ($255 million) in assets as possible compensation for damages related to a recent evacuation of the area around the company's Vargem Grande dam in Minas Gerais state.