Vale rules out major acquisitions
CEO Fabio Schvartsman said the company would only invest further in nickel if global prices for the metal rise from $13,000 per tonne currently to around $20,000 per tonne.
CEO Fabio Schvartsman said the company would only invest further in nickel if global prices for the metal rise from $13,000 per tonne currently to around $20,000 per tonne.
Iron ore production at the S11D and Carajás projects grew nearly 20 percent to record 53.9 million tonnes, accounting for most of the increase.
The Salobo mine, in Brazil's Para state, began operations in 2012 and produces nearly 200,000 tons annually.
The project, known as the Salobo 3, is expected to add about 50,000 tonnes to the open-pit mine’s current capacity of 200,000 tonnes of copper per year
The definitive agreement comes almost three years after the incident, which killed 19 people and became the country’s worst ever environmental disaster.
Two major shareholders of Brazilian mining company Vale SA are likely to reach an agreement on Wednesday to pay 2.82 billion reais ($692 million) to Eletron to settle a dispute over Vale shares.
China, the world's biggest consumer of the steelmaking ingredient, has ramped up buying of higher-quality, less polluting grades of iron ore as it battles to clear its notoriously smoggy skies.
Vale’s Clean AER Project is the largest single environmental investment in Sudbury’s history.
Using seven Caterpillar 793F CMD autonomous trucks, the miner was able to transport 26% more ore at Brucutu mine in just a month.
Fabio Schvartsman said the company would ramp up annual production to 450 million tonnes only when prices rise.