Brazil’s Vale expects to meet $10bn net debt goal by mid-2018
Speaking at an event in São Paulo, Schvartsman also said the recent rise in nickel prices should generate an additional $750 million in cash flow.
Speaking at an event in São Paulo, Schvartsman also said the recent rise in nickel prices should generate an additional $750 million in cash flow.
During a meeting with investors and analysts in Sao Paulo, Vale’s investor relations director, André Figueiredo, said it seemed “natural” for his company to become the sole owner of the project.
Federal prosecutors announced ruling in a statement that said electricity transmission lines and a bauxite pipeline damaged soil and silted up rivers.
Brazilian mining giant is retaining control of the TIPLAM port terminal, which was originally included in the deal.
Vale and BHP Billiton in talks over future of their Samarco iron-ore joint venture, including the possibility of the Brazilian miner taking full ownership.
The South American miner wants to retain control of the TIPLAM port terminal, which is an asset originally included in the deal.
"Now is the era of the Vale dividends. Vale will become a big payer of dividends if everything goes well," CEO Fabio Schvartsman said on Friday.
The global miner said on Monday it would not pay bonuses demanded by its workers in what it called an illegal strike at the Moatize coal plant in Mozambique.
Workers at Vale's Mozambique Moatize coal mine downed tools on Friday in a dispute over bonus payments, paralysing work at the plant.
While "everyone knows there are great opportunities" for nickel in the EV sector, "prices are not there", according to Vale Chief Exec Fabio Schvartsman,