Archive | Vale

NEWS RELEASE: VALE TO DEMOLISH STOBIE MINE HEADFRAMES & BUILDINGS (October 13, 2020)

Photo Credit: Concrete Pictures Inc.

SUDBURY, October 13, 2020 – After more than 100 years of operation, the iconic headframes and other buildings at Vale’s Stobie Mine site will be demolished over the next few months. The demolition follows Stobie Mine operations being placed on care and maintenance in 2017.

“The aging headframes are being demolished to reduce maintenance costs and pave the way for potential new development currently being studied at the Stobie Mine site,” said Patrick Boitumelo, Head of Mining & Milling for Vale’s North Atlantic Operations.

This work will be completed between mid-October and mid-December, with all three headframes at Stobie Mine demolished. Shafts Seven and Eight will be dismantled by carefully removing pieces of the headframes from the top down starting October 13th. The Nine Shaft will be safely blasted down the week of November 9th. Some buildings at the site such as the crusher plant, mill and hoist building have already been removed with a few more also scheduled for demolition. Continue Reading →

Why Rio Tinto and China are at loggerheads (The Economist – October 10, 2020)

https://www.economist.com/

China does not like to feel jealous of Japan. But in the case of iron ore it has plenty to envy. Back in the 1960s, when Japan was building up its steel industry, the world’s supply of the stuff was so fragmented that Japan could play off producers in Australia and Brazil against each other.

China, now the world’s biggest steelmaker, does not have that luxury. Though it imports 70% of the world’s iron ore, most of this comes from three companies that in the intervening six decades have become titans.

They are Rio Tinto and BHP, two Anglo-Australian firms, and Vale, a Brazilian one. They have brought about consolidation in the industry. They benefit from high barriers to entry. None is keen to undercut the other two. That puts them in a far stronger position vis à vis Chinese customers than their predecessors were with the Japanese. Continue Reading →

The Sudbury model: How one of the world’s major polluters went green – by Sara Miller Llana (The Christian Science Monitor – September 24, 2020)

https://www.csmonitor.com/

When the Superstack was constructed in 1972, it was the tallest structure in Canada – and the tallest smokestack in the world. At 1,250 feet, it’s visible from every vantage point in the area. It can be seen from the bustling streets of downtown to the quiet cul-de-sacs of residential neighborhoods. It looms large in the distance from highways that feed into a city that is home to one of the largest mining complexes in the world.

Built by Canadian company Inco before it was purchased by Vale, the Superstack has long stood as a reminder of the environmental devastation that mining wrought here. But this year the chimney is being fully decommissioned.

Residents of Sudbury harbor mixed feelings about the Superstack. Some see it as a memorial to their rise as a center of nickel and copper mining globally. Others see it simply as a familiar landmark that signals they are home. Gisele Lavigne lives in the Copper Cliff neighborhood at the Superstack’s base. Continue Reading →

Two new smaller stacks are ready, decommissioning of Sudbury’s Superstack about to begin – by Molly Frommer (CTV News Northern Ontario – September 10, 2020)

https://northernontario.ctvnews.ca/

SUDBURY — Two new, 450-foot stacks are now fully installed and ready to replace the famous Superstack that has been in Sudbury for decades.

The $450 million project began in 2014, and managers with Vale say it was a companion effort to the Clean Atmospheric Emissions Reduction Project (AER).

“That Clean AER project was run in parallel to the service facilities upgrade,” said Darryl Cooke, Vale surface project and studies senior manager. “That was a billion-dollar project for atmospheric emissions reduction.” Continue Reading →

Vale’s Divestment Collapse Underscores Nickel-Mining Challenges – by James Attwood and Mark Burton (Bloomberg News – September 2020)

https://www.bnnbloomberg.ca/

(Bloomberg) — In the clearest sign yet of the challenges to nickel mining in New Caledonia, a would-be buyer failed to put together a deal that would have seen it paid to acquire a major asset.

New Century Resources Ltd. said Tuesday it was unable to generate a funding package and equity structure that “adequately accommodates a suitable risk/reward scenario” to acquire the Goro operations from Vale SA.

Vale’s response was equally telling. The Rio de Janeiro-based said it would prepare to mothball Goro while exploring other options, all of which would “contemplate Vale’s exit.” Continue Reading →

Slow process of demolition to start on Vale’s Superstack – by Lindsay Kelly (Northern Ontario Business – July 29, 2020)

https://www.northernontariobusiness.com/

July 28 decommissioning of the structure makes way for first stage of multi-year project

With the news that Vale’s Superstack is no longer operational, the nickel giant is now poised to start the demolition process on the 50-year-old structure.

On July 28, the company announced it had decommissioned the 1,250-foot (381-metre) stack at its Copper Cliff Complex in Sudbury during a period of regular maintenance.

In the broader context, taking the stack out of service represents a landmark moment of the environmental progress for Vale (formerly INCO) and the mining industry as a whole. Continue Reading →

NEWS RELEASE: VALE COMPLETES TIE-INS OF NEW STACKS (July 28, 2020)

Signals Completion of Superstack Being Taken Out of Service

SUDBURY, July 28, 2020 – Vale has completed the final tie-in of the flue systems to the new 450’ (137 metre) Stacks and took its Copper Stack out of service at the Copper Cliff Smelter Complex during its planned maintenance period this month. With these project milestones achieved, Vale can complete the process of taking the Superstack out of service.

“Completing this process of taking the Superstack completely out of service is symbolic of Vale’s evolution towards reducing our environmental footprint with innovative and more sustainable Smelter operations ” said Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Operations and Asian Refineries.

The two smaller and more efficient stacks will require far less energy to operate than the Superstack, which will reduce greenhouse gas emissions from Vale’s Copper Cliff Smelter by approximately 40%. At the same time, Vale’s Clean AER Project will reduce particulate emissions by 40% and dramatically reduce SO2 emissions by 85%. Continue Reading →

New Century, Vale delay nickel mine deal – by Cecilia Jamasmie (Mining.com – July 28, 2020)

https://www.mining.com/

New Century Resources (ASX: NCZ) and Vale (NYSE: VALE) have delayed the deadline for closing the sale of the Brazilian miner’s nickel and cobalt operations on the Pacific island of New Caledonia by 45 days.

The Australian zinc producer entered into a 60-day exclusivity agreement to acquire a 95% stake in Vale Nouvelle Calédonie (VNC), the operator of the troubled Goro nickel-cobalt mine on the French territory, on May 26.

New Century said on Thursday it had made “significant progress” in evaluating the technical and commercial aspects of the transaction, but has not yet finished a definitive binding agreement. Continue Reading →

Indonesia state company to acquire stake in nickel miner (Nikkeo Asian Review – June 22, 2020)

https://asia.nikkei.com/

JAKARTA — Indonesia’s state-owned mining holding company will acquire a 20% stake in the local subsidiary of Brazilian mining giant Vale, operator of the world’s largest nickel mine on the island of Sulawesi.

Indonesia is keen to expand control over nickel production as global demand for the commodity, used as batteries in electric vehicles, rises.

In a deal signed last week, Mind Id, the holding company, agreed to pay a combined $390 million or so to Vale and Japan’s Sumitomo Metal Mining for the Vale Indonesia stake. The transaction is to be completed by the end of the year. Afterward, Vale will have a stake of 44.3% and Sumitomo 15%; the rest of the shares will be traded publicly. Continue Reading →

Vale reopens Itabira but pandemic threats persist – by Reese Ewing (Australian Financial Review – June 23, 2020)

https://www.afr.com/

Sao Paulo | Vale’s Itabira mine is back up and running this week after the Brazilian mining giant convinced local health authorities that new measures would contain the spread of COVID-19 among its workers.

The mine was producing 2.7 million tonnes a month before a local court in the state of Minas Gerais this month shut it down for almost two weeks on reports that 200 workers had tested positive for COVID-19.

Vale got clearance late last week to resume operations after clarifying its safety protocols and amending some of its policies. The miner estimates it lost about 1 million tonnes of output over the 12-day shutdown, but again stuck by its revised 2020 guidance of 310-330 million tonnes. Continue Reading →

Thompson bracing for job losses after northern Manitoba mine owner admits to bleeding $300K a day – by Ian Froese (CBC News Manitoba – June 17, 2020)

https://www.cbc.ca/news/canada/manitoba/

Vale says efforts to find ‘simpler and more nimble operating model’ will mean smaller workforce

A mining city in northern Manitoba is facing another setback as the owner of the community’s nickel mine is preparing to shed more jobs. Vale says it cannot continue to operate its Thompson mine under the status quo, after losing $300,000 per day in 2019.

“We need to find a simpler and more nimble operating model to ensure our future in Thompson,” said Franco Cazzola, manager of Vale’s Manitoba operations, in an email to media.

“This will mean a smaller workforce than we have today. We will consider every option available to us to ensure any job reductions are as limited as possible, and we will ensure they will not impact the safety of our ongoing operations.” Continue Reading →

Vale to resume operations at Voisey’s Bay in July – by Cecilia Jamasmie (Mining.com – June 18, 2020)

https://www.mining.com/

Vale (NYSE: VALE), the world’s top producer of nickel and iron ore, is fine-tuning details to reopen its Voisey’s Bay open pit nickel mine and concentrator in Canada, next month.

Full capacity at the northern Labrador-based operation should be reached in August, the Brazilian mining giant said on Thursday.

Vale initially placed Voisey’s Bay mine on care and maintenance for four weeks as a precaution amid the fast-spreading coronavirus pandemic. It later extended the measure for up to three months, leaving an ongoing mine expansion project on hold. Continue Reading →

COLUMN-Iron ore’s rally built on as yet unrealised Brazil supply fears – by Clyde Russell (Reuters U.S. – June 11, 2020)

https://www.reuters.com/

LAUNCESTON, Australia, June 11 (Reuters) – Iron ore’s ongoing run above $100 a tonne is begging the question as to how long a price rally can sustain on fear of an event that is yet to present itself in the evidence.

The surge to a 10-month high on June 8 of $105.75 a tonne in spot iron ore for delivery to China MT-IO-QIN62=ARG, as assessed to by commodity price reporting agency Argus, was largely built on market concerns that shipments from number two exporter Brazil would be hit by coronavirus shutdowns at mines.

The price has eased slightly since the high to end at $103.85 a tonne on Wednesday, but it has been above the $100 level on seven of the last nine trading days. Continue Reading →

Iron Ore Blasts Past $100 After Pandemic Forces Brazil Mine Halt – by James Attwood and Krystal Chia (Bloomberg News – June 8, 2020)

https://ca.finance.yahoo.com/

(Bloomberg) Iron ore futures surged above $100 a ton after Brazil’s Vale SA was ordered to suspend operations that account for about a 10th of its output after workers contracted Covid-19, boosting concerns surging cases will disrupt other mines in the top shipper after Australia.

The ruction is the latest supply shock to hit the global market over the past 18 months, following a dam burst at a Vale mine in 2019 that roiled prices as well as weather-related disruptions this year.

Iron ore could hold above $100 for the next two months, Morgan Stanley said, although it cautioned that a surplus and lower prices were still expected in the final quarter. Higher prices will benefit Australian majors BHP Group, Rio Tinto Group and Fortescue Metals Group Ltd. Continue Reading →

Vale confirms Mark Travers as executive director of base metals – by Staff (Northern Ontario Business – June 1, 2020)

https://www.northernontariobusiness.com/

Mark Travers has been confirmed as Vale’s executive director of base metals. Travers has held the position on an interim basis since March 2019 after the resignation of CEO Fábio Schvartsman and three of the company’s senior executives.

The resignations were prompted by the collapse of a tailings dam in Brazil that killed 186 people.

“I am committed to leading the base metals’ business transformation to create a bright future on the strengths of our ongoing efforts to become a safe, reliable and sustainable operator,” Travers said in a statement from Vale. Continue Reading →