Vale’s Q2 capex reaches lowest level since ’05
Vale announced an adjusted EBITDA of US$3.9 billion in Q2 with iron ore production of 96.8 tonnes and sales of 86.5 tonnes.
Vale announced an adjusted EBITDA of US$3.9 billion in Q2 with iron ore production of 96.8 tonnes and sales of 86.5 tonnes.
Vale’s Sudbury Operations will spend $42 million on exploration in the Greater Sudbury Area, doubling the company's exploration spend from a year ago.
Iron ore output hit 96.755-million tonnes in the three months to June 30, while pellet output reached 12.838-million tonnes, despite a nationwide truck drivers strike that paralyzed the country in May.
The sale of Vale stakes has been a subject of market speculation since the world's largest iron ore miner moved to a single class of stock in October. Mitsui currently holds a 5.51 percent stake in Vale.
Mine closure is one of the biggest prices the environment pays in the mining enterprise, so coming up with a canopy system to restore the mining-impacted land to its natural condition is of invaluable importance, making Terratec’s innovation a considerable contribution to the field.
Vale agreement sets something of a price benchmark for long-term cobalt deals by showing what financial investors are willing to pay.
"We see numerous similarities between cobalt and silver."
Transiting Voisey's Bay nickel mine from open-pit operations to underground will cost about $2 billion, and is expected to extend its productive life to 2035.
Government and company officials told CBC News that a "significant" mining announcement would take place on Monday.
The company will announce "organic growth" in the coming months.