Net income at the Indonesian unit of global nickel giant Vale last year fell to less than a quarter of the figure a year earlier, unaudited results released on Thursday showed, a dramatic plunge the company blamed on lower global prices for the metal.
Vale Indonesia posted a net income of $67.5 million in 2012, down 80 percent from $333.8 million the previous year. Revenue fell to 19 percent to $967.3 million from $1.2 billion.
China’s privately-owned Hanlong Group is talking to four State-owned steel mills to find a partner for the $4.7-billion Mbalam iron ore project in Africa, the chief executive of project owner and takeover target, Sundance Resources, said on Thursday
Faster growth in world steel production and a likely rebound in prices for coking coal should help Brazilian mining giant Vale SA reduce the discount at which it sells its iron ore, a company executive said Thursday
SAO PAULO, Feb 28 (Reuters) - Brazilian stocks rose on Thursday with shares of iron-ore mining firm Vale advancing on its outlook for improved profit, but concerns over U.S. economic growth weighed on oil producers. http://www.reuters.com/article/2013/02/28/markets-latam-stocks-idUSL1N0BSA3S20130228
YOU paid for it, so you should be able to see it. On Sunday the US government said that all federally funded research results must be available for free online. The UK made a similar decision last year.
Vale SA (VALE5), the world’s largest iron- ore producer, probably lost money for the first time in a decade in the fourth quarter after Chief Executive Officer Murilo Ferreira dropped unprofitable projects and wrote down assets.
The Boa Vista mine produced 4,400 metric tons of niobium last year, up 13% from a year earlier, but is expected to see production decline in 2013 due to lower-quality ore, Anglo American said this month in its fourth-quarter earnings release. Niobium, a relatively small business within Anglo American, generated operating profit of $81 million last year, up 56% from 2011.
China’s state-owned asset regulator named Xu Siwei as vice president of Sinosteel Corp., replacing Zhang Hanguang. Xu, who was also appointed to the position of the Communist Party’s top representative in the company, was previously vice president of China MinmetalsCorp.
JOHANNESBURG (miningweekly.com) – Creating the world’s best mining company is the aim of Mark Cutifani, who takes over the reins of Anglo American as CEO from April 3.
BRAZILIAN giant Vale is set to pay Aquila Resources $150 million for a 24.5 per cent stake in the Belvedere coal project after an independent valuer put a price on the interest to end a long-running dispute.
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