Tag: Vale

• Wednesday, January 30th 2019 - 10:05 UTC

  Dam burst in Brazil: Police arrests five engineers responsible for environment impact licenses

  

  Police in Brazil have arrested five people as part of an investigation into Friday's dam collapse in Brumadinho. At least 65 people died and 300 remain unaccounted for, when toxic sludge engulfed a company canteen and neighboring residential buildings.

• Wednesday, January 30th 2019 - 09:14 UTC

  Vale vows to cut 10% iron ore output and decommission ten dangerous sludge dams

  

  Vale SA, the world’s largest iron ore miner, on Tuesday vowed to take as much as 10% of its ore output offline in order to decommission ten more dams like the one that burst last week, killing scores of workers and nearby residents.

• Tuesday, January 29th 2019 - 09:01 UTC

  Bolsonaro recovering after a nine-hour operation; General Hamilton Mourao acting president

  

  Brazilian President Jair Bolsonaro has undergone surgery to remove a colostomy bag he had fitted after he was stabbed in the stomach on the campaign trail in September. He is expected to be on strict bed rest for two days after the operation, a presidential spokesman said.

• Tuesday, January 29th 2019 - 08:43 UTC

  Brazilian government considering management overhaul at miner Vale SA

  

  Brazil’s government weighed pushing for a management overhaul at miner Vale SA on Monday as grief over hundreds feared killed by a dam burst turned into anger, with prosecutors, politicians and victims’ families calling for punishment. By Monday, firefighters in the state of Minas Gerais had confirmed 65 people killed by Friday’s disaster, in which a burst tailings dam sent a torrent of sludge into the miner’s offices and the town of Brumadinho.

• Tuesday, January 29th 2019 - 08:36 UTC

  Vale's market value plunges US$ 16,4bn on Monday, following on the dam burst

  

  Brazilian miner Vale SA’s shares plunged on Monday, wiping out nearly 62 billion reais (US$ 16.4 billion) in market value, after a tailing dam collapse on Friday killed at least 65 people and left 292 missing with slim hopes for recovery. Vale shares were down 21.5% in Sao Paulo morning trading, at 44.70 reais. The company suspended dividend payments late on Sunday.

• Monday, January 28th 2019 - 09:32 UTC

  Brazilian prosecutors looking into expanding the case against mining companies

  

  The Brazilian prosecutor running talks to settle a lawsuit over a 2015 tailings dam rupture at the Samarco mine says the deadly dam burst at the mine run by Vale in Brumadinho could scramble those sensitive negotiations.

• Saturday, January 26th 2019 - 07:50 UTC

  Dam collapses in Brazil: mud sludge leaves over 200 miners missing

  

  Brazilian rescuers were searching for some 200 missing people after a tailings dam burst on Friday at an iron ore mine owned by Vale SA, the second major dam disaster involving the company in just over three years.

• Wednesday, September 19th 2018 - 08:18 UTC

  Brazilian Bovespa market index up 1.75%; Real suffers a slight depreciation

  

  Brazil's benchmark Bovespa index rose 1.75% on Tuesday, rallying for a second straight day largely on a spike in commodities prices. Two of the Bovespa's most heavily weighted equities, miner Vale and oil giant Petrobras benefited from rising commodity prices worldwide amid escalating China-U.S. trade tensions and signals OPEC is not prepared to raise output to address shrinking supplies from Iran.

• Wednesday, June 27th 2018 - 08:26 UTC

  Brazilian shares recover cautiously; Central bank absent from the foreign exchange market

  

  After trading lower for a good part of Tuesday's session, the Ibovespa closed higher for the third consecutive day (+0.64%), to 71,404.59 points, driven mainly by the shares of Petrobras and Vale. The improvement in the U.S. stock markets also helped to recover the benchmark stock index in Brazil, although concerns remain about a world trade war.

• Tuesday, December 20th 2016 - 08:57 UTC

  Brazil's Vale sells its fertilizer business to cut debt

  

  Brazil's Vale, the world’s largest iron ore and nickel miner said on Monday it will sell most of its fertilizer business to US-based Mosaic Co., the No.1 producer of phosphate fertilizer, in a deal worth about US$2.5 billion.