Archive | Vale

Brazil’s Coronavirus Crisis Disrupts Iron-Ore Market; Prices Surge – by Joe Wallace (Wall Street Journal – May 20, 2020)

https://www.wsj.com/

Brazil’s deadly coronavirus outbreak has disrupted global supplies of iron ore just as demand from China is revving up, pushing the price of the steel ingredient to a seven-month high.

Iron ore is one of the most heavily traded commodities and can influence the price of materials used in everything from buildings to cars. Front-month futures for ore with 62% iron content jumped 10% to nearly ¥759 ($107) a metric ton Wednesday on China’s Dalian Commodity Exchange. That is their highest closing price since October 2019.

Prices have risen 20% since early April, driven by squeezed supplies from Brazil, which dominates the iron-ore mining industry along with Australia. The rally is also an indication that China’s economy is gathering momentum, after a downturn at the start of the year when swaths of the country went into lockdown to stop the coronavirus spreading. Continue Reading →

New Century mulls trip to New Caledonia – by Sarah Thompson, Anthony Macdonald and Tim Boyd (Australian Financial Review – May 20, 2020)

https://www.afr.com/

New Century Resources is getting ready to spend some nickels (and dimes).  Street Talk understands the ASX-listed mining player is close to buying a New Caledonian operating nickel mine off the world’s largest iron ore and nickel producer, Vale.

While a deal had not yet been signed on Wednesday evening, sources said it was close to being finalised and expected an announcement in the coming days. New Century’s shares went into a trading halt on Tuesday, regarding “a potential material acquisition”.

The mine in question – called Goro – is located in southern New Caledonia in the South Pacific and has been on the market for the past six months. Continue Reading →

Vale after NYC real estate moguls for Simandou compensation – by Cecilia Jamasmie (Mining.com – May 19, 2020)

https://www.mining.com/

Brazil’s Vale (NYSE: VALE), the world’s no. 1 iron ore miner, has launched a legal action in New York to determine whether funds paid to BSG Resources within the framework of their former Simandou partnership in Guinea were used for property investments in the United States.

The Rio de Janeiro-based mining giant alleges that BSGR, diamond tycoon Beny Steinmetz’s mining arm, fraudulently funneled $500 million into Manhattan real estate’s magnates Aby Rosen and René Benko, Africa Intelligence reported.

The case is the latest in a series of efforts Vale has made to have BSGR pay a $1.2 billion arbitration award. The amount was granted to the Brazilian miner on the grounds of “fraud and breaches of warranty” when included in the Simandou iron ore joint venture. Continue Reading →

NEWS RELEASE: TWO NORTHERN ONTARIO ORGANIZATIONS AMONGST WINNERS OF VALE COVID-19 CHALLENGE

May 8, 2020 – On April 3, the Vale COVID-19 challenge was launched in Canada to help propel innovative COVID-19 solutions developed by companies, startups, institutions, universities or professionals into the marketplace by offering financial support of up to USD $1M.

A total of nearly 1,800 solutions were submitted globally, of which over 300 came from within Canada. All solutions were carefully reviewed by a select group of employees as well as external partners and supporters, which, in Canada, included:

• Mater Dei Hospital in Brazil,
• Dr. Ken Jenkins (Horizon supported by TELUS Health),
• Dr. Farrell Cahill (Medisys supported by TELUS Health),
• Dr. Greg Ross (Health Sciences North Sudbury),
• Don Duval (NORCAT),
• Dr. Shahid Husain (University Health Network)
• Sheryl Thingvold (MaRS Discovery District). Continue Reading →

Iron ore wars: the fall of Vale and the rise of Rio Tinto – by JP Casey (Mining-Technology – May 5, 2020)

https://www.mining-technology.com/

In the wake of the Brumadinho dam tragedy, Vale has lost its position as the world’s top iron ore producer. We consider what contributed to its decline, and how Rio Tinto has taken advantage of its struggles to become the industry’s new iron ore leader.

Vale has finally lost its position as the world’s largest iron miner. The Brazilian mining giant saw its production crater in 2019, as the tragic impacts of a collapsed tailings dam at its Brumadinho operation were felt across the iron ore sector. 300 people were killed or left missing by the disaster, sparking internal investigations and external outrage as Vale’s reputation crumbled.

While the human cost of the disaster is the most significant impact, there have been a number of financial and operational effects for Vale, and few of them positive. The miner’s total iron ore output was 301,972 million tonnes in 2019, 21.5% lower than in 2018, with a decline of 55.2% at its Southern System projects leading the way. Continue Reading →

Vale mulling offers for New Caledonia nickel assets – by Cecilia Jamasmie (Mining.com – April 29, 2020)

https://www.mining.com/

Vale (NYSE: VALE), the world’s top producer of nickel and iron ore, has received non-binding offers for its operations on the Pacific island of New Caledonia, it said in a conference call on Wednesday.

The Brazilian mining giant said it expected to have “relevant news” on the topic within a month or two.

Vale put its New Caledonia nickel assets on the block in December. The decision came after it had to write down $1.6 billion in the fourth quarter related to the ailing mines, the world’s biggest nickel operations. Continue Reading →

NEWS RELEASE: VALE LAUNCHES $1 MILLION COVID-19 CHALLENGE (April 4, 2020)

April 4, 2020 – Vale is joining the fight against COVID-19 by launching the Vale COVID-19 Challenge, offering up to USD $1 million to propel innovative COVID-19 solutions into the marketplace. The challenge is open in Canada and Brazil with each selected solution eligible to receive up to USD $200,000.

Companies, startups, institutions, universities and professionals with innovative solutions to help our communities and lessen the impact of COVID-19 are invited to participate.

Vale has proudly partnered with experts from the healthcare sector who will assist in the technical evaluation of the submissions. Dr. Ken Jenkins (Horizon Occupational Health Solutions), Dr. Farrell Cahill (Medisys), Dr. Greg Ross (Health Sciences North Sudbury) and Don Duval (NORCAT) will join members of Vale’s leadership team to evaluate the solutions submitted in Canada. Continue Reading →

NEWS RELEASE: Vale Donates $100,000 to the Sudbury Food Bank’s Cash for Cans Campaign (March 30, 2020)

Sudbury, ON – Vale is responding to the Sudbury Food Bank’s call for financial support during the COVID-19 crisis, with a $100,000 donation to its Cash for Cans campaign. The donation is intended to support skyrocketing demand for food during the COVID-19 pandemic.

“Vale has a long history of support for the Sudbury Food Bank,” said Danica Pagnutti, Corporate & Indigenous Affairs Specialist for Vale’s Sudbury Operations. “The Sudbury Food Bank is seeing new clients every day during this crisis and we really wanted to support the growing demand for their important community service.”

The Sudbury Food Bank is a central distributor of food to 44 food banks and meal providers across the City of Greater Sudbury. These agencies currently support 8,000-8,500 people per month and that number is expected to grow exponentially with the COVID-19 pandemic. Continue Reading →

Sudbury doctor makes online plea for N95 masks – by Sarah MacMillan (CBC News Sudbury – March 21, 2020)

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

Mining company Vale responds, offering to donate 500 masks

Health Sciences North is receiving offers of personal protective equipment, following an online plea from a doctor at the Sudbury hospital.

In a Facebook post Friday evening, Dr. Lacey Pitre said the hospital needs N95 masks, and called on anyone who might have the protective respirator masks — from veterinarians, to construction workers to mining companies — to contact the hospital.

“If you have any N95 masks and you are not using them for direct patient care – reach out to our team at HSN. They will be used”, Pitre wrote in her post, which she called a “request of the utmost importance.” Continue Reading →

Vale & NORCAT VR training partnership. Extraordinary ways to the do the ordinary – by Len Gillis (Sudbury Mining Solutions Journal – March 2020)

https://www.sudburyminingsolutions.com/

With all the excitement over virtual reality (VR)and how it can change the workplace with high tech opportunities, mining company Vale has partnered with innovation leader NORCAT in Sudbury to carry out a very necessary part of business.

Jason Bubba, NORCAT’s director of training, said Vale is launching a new program that takes advantage of NORCAT’s extraordinary training centre to do something quite ordinary – training new hires.

“What we’re building right now are virtual reality pre-operational check programs for three pieces of underground equipment — for a forklift, for a scissor deck and for a utility vehicle,” said Bubba. “So these pieces are for entry-level workers so they can be trained on the equipment that they’re first going to use when they go to work for Vale.” Continue Reading →

Vale ramping down operations at Voisey’s Bay (CBC News Newfoundland-Labrador – March 17, 2020)

https://www.cbc.ca/news/canada/newfoundland-labrador/

Safety of remote Indigenous communities top of mind, company says

Brazilian mining giant Vale is placing its Labrador nickel mine under “care and maintenance” protocols for the next four weeks amid concerns about COVID-19.

The remote mine, just south of Nain on the northern coast of Labrador, has about 900 workers on site. It is accessible only by air, and has employees from all over Canada.

No employees have tested positive for the virus, but the company said it was taking steps to keep it that way. Continue Reading →

NEWS RELEASE: SHAFT BOTTOM BOYS SMASH GUINESS WORLD RECORD AT CREIGHTON MINE

SUDBURY, MARCH 9, 2020 – It was a rocking Sudbury Saturday morning in Creighton Mine’s 7200-level garage as the Shaft Bottom Boys brought the Guinness World Record for deepest underground concert back to Sudbury with a rousing Canadian content filled performance, 7200 feet underground.

The 47-minute set had Vale employees’ steel-toed boots tapping along to some rock and roll classics, including Canadian favourites the Tragically Hip and Blue Rodeo, and of course the band got their set going with an ode to Stompin’ Tom Connors ‘Sudbury Saturday Night’. The Shaft Bottom Boys even penned an original tune in honour of the event titled ‘Creighton Deep’ and handed out song lyrics to encourage the audience of 50 to participate.

Ripley’s Entertainment and official representatives of Guinness World Records along with members of Science North’s Board of Directors and Miners for Cancer were on hand to support the event, as funds raised will flow towards the two charities. Science North intends to use the funds to send an additional 1,000 underserved children across Northern Ontario to their Summer Science Camps. Continue Reading →

Vale hiring blitz draws a crowd – by Mary Katherine Keown (Sudbury Star – February 26, 2020)

https://www.thesudburystar.com/

Copper Cliff may have experienced its first-ever traffic jam on Tuesday as hundreds of people flocked to the hamlet for the Vale hiring pop-up.

More than a thousand hopeful applicants attended the employment event on day one, which saw the mining company recruiting for underground miners; supervisors; tradespeople; equipment technicians; engineers; technologists; and support staff.

Traffic was backed up at one point to the arena and it took nearly 40 minutes to reach the Copper Cliff Club from Jube’s Bar + Grill. Most people spent another 45-60 minutes waiting in line in the cold, just to enter the building. Continue Reading →

Internal probe confirms Vale knew Brumadinho dam was unsafe – by Cecilia Jamasmie (Mining.com – February 21, 2020)

https://www.mining.com/

Brazilian iron ore miner Vale (NYSE: VALE) has published the results of an independent report into the Córrego do Feijão mine’s tailings dam collapse that killed 270 people last year, which reveals the company knew about the facility’s fragile condition since 2003.

According to the document, prepared by a committee formed by Vale last year, concerns about how unstable the main B1 dam was were raised at various points over the course of 16 years, but the miner failed to appropriately deal with them.

Last month, state prosecutors charged Fabio Schvartsman, the chief executive at the time of the burst, and 15 other people with homicide. Schvartsman left his position at the company in March 2019. Continue Reading →

Sudbury’s iconic Superstack easing into retirement – by Jim Moodie (Sudbury Star – February 19, 2020)

https://www.thesudburystar.com/

One of two new, smaller stacks already in operation

The long plumes that used to flow from the Superstack in Copper Cliff have been reduced to wisps as the mega chimney nears retirement and two mini versions take over.

You could call it a passing of the baton, although in this case it’s more like breaking one really big one in half. In fact, each of the replacement stacks is closer to a third of the size of the original.

The Superstack stretches 1,250 feet in height and is more than 100-feet-wide at its base. The new stacks are much slimmer and top out at 450 feet. Lights now adorn the shorter towers and one is already emitting puffs of smoke. Continue Reading →