Tag Archives: Vale

Fitch Affirms Vale S.A.’s Credit Ratings at ‘BBB+’

Fitch has also affirmed the ‘BBB+’ FC IDRs of Vale Overseas Limited and Vale Canada Limited, as well as the ‘BBB+’ foreign currency ratings of the senior unsecured debt issued by these companies. The ratings of Vale Canada Limited and Vale Overseas Limited have been linked to those of Vale S.A. through Fitch’s ‘Parent Subsidiary Rating Linkage’ criteria. Vale Overseas Limited, whose debt is guaranteed by Vale S.A., is domiciled in the Cayman Islands. Vale Canada Limited is an operating company with operations in Canada and Indonesia. Its debt is not guaranteed by Vale S.A.


Vale says obtained license to build Serra Sul mine in Brazil

(Reuters) – Vale SA, the world’s largest iron ore miner, received a license from Brazil’s Environmental Protection Agency for its $19.5 billion Serra Sul mine, CEO Murilo Ferreira said on Wednesday, adding that operations should begin in 2016.


Vale taps bank duo for best efforts $2 billion deal

(Reuters) – Following a highly competitive bidding process, Brazilian miner Vale SA (VALE5.SA) tapped BNP Paribas and Credit Agricole as global coordinators of a $2 billion, five-year revolver, sources told Thomson Reuters LPC.


Nickel miner INCO sets aside $216 million for investment

Nickel miner PT Vale Indonesia, whose shares are traded on the bourse under the code INCO, is planning to spend up to US$216 million to support its business this year.


Move underground extends Voisey’s Bay mine life to 2035

Vale has committed to going underground at its Voisey’s Bay site in Labrador, a move that will create hundreds of new jobs and extend the mine’s lifespan to 2035.


China’s iron ore demand to grow, say Vale boss Murilo Ferreira

VALE chief executive Murilo Ferreira has forecast China’s iron ore demand will keep rising for the next decade as the nation’s urbanisation continues.

Mr Ferreira said China’s iron ore demand could eventually hit 1 billion tonnes on the back of increased steel production.


Vale Indonesia Blames Falling Nickel Price for Profit Dip

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.


Brazil’s Vale Sees Iron-Ore Price Discount Narrowing

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


Brazil stocks gain on outlook for miner Vale

 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.


Vale suspends $6bn potash project

Vale has suspended work at its $5.9bn potash project in Argentina indefinitely as the world’s biggest producer of iron ore cuts back investment to the lowest level in three years.


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