Archive | Vale

‘The north is truly hurting’: Thompson mayor frustrated he can’t get meeting with premier (CBC News Manitoba – August 16, 2018)

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

Dennis Fenske says city’s economic crisis warrants face time with Brian Pallister

The mayor of Thompson says he’s frustrated that he can’t get a meeting with the premier despite the grave economic challenges his community is facing.

Dennis Fenske says he and his council have been trying to arrange a sit down Premier Brian Pallister for months.

They put in a request to meet with Pallister when the premier was in Thompson last week for an announcement that Bell MTS would be awarded the contract to connect first responders across the province. Continue Reading →

Why Shareholders Aren’t Loving Rio Tinto’s Cash Machine – by David Fickling (Bloomberg News – August 1, 2018)

https://www.bloomberg.com/

The big mining companies are thriving again, but they’re right to be cautious.

Poor little rich kids. After a brush with death when commodity prices slumped barely three years ago, the world’s miners are back in rude health. Net debt at the big five is now headed to its lowest levels since the peak of the previous mining boom in 2011, based on reported results and analyst estimates.

Free cash flow hasn’t quite scraped those heady heights yet, but it’s looking barely less robust than it was back then — and much more sustainable, too. While the measure dropped by 38 percent in Rio Tinto Group’s first-half results Wednesday, the change was attributable almost entirely to the timing of a $1.2 billion tax payment on the previous year’s earnings:

One obvious reason for the strength of cash flows is that, contrary to predictions including our own, the companies have so far resisted the temptation to fall off the capital-discipline wagon and splurge on building new mines and infrastructure. Continue Reading →

Vale’s Long Goodbye: 2,814 days adding up to 7 years, 8 months and 15 days – by John Barker (Soundings John Barker – July 31, 2018)

https://soundingsjohnbarker.wordpress.com/

The Sword of Damocles dangles no longer. Today is the day Tito Martins, then president and chief executive officer of Vale Canada and executive director of base metals for the Brazilian international parent company, told us was coming on Nov. 17, 2010 – 2,814 days ago, or expressed another way, seven years, eight months and 15 days ago.

The day the Thompson smelter and refinery officially cease production and Thompson ceases to be a fully integrated nickel operation for the first time since March 1961.

Mind you, July 31, 2018 – today – is something of an arbitrary bookkeeping sort of marker. At the time of Martins’ 2010 announcement, the closing date was announced as 2015, so we’ve had about three extra years of nickel smelting and refining. As for the actual ramp down, the last furnace tap from the one remaining furnace in operation and anode cast from the smelter and the last cathode pulled from the refinery happened earlier this month. Continue Reading →

Vale increases profits in second quarter – by Staff (Sudbury Star/Reuters – July 27, 2018)

http://www.thesudburystar.com/

Vale recorded a second-quarter profit of US$76 million, compared to $16 million a year ago. Despite the improvement, the figure fell far short of a Reuters consensus estimate of $1.265 billion and the $1.590 billion in profit notched in the first three months of 2018.

Reuters said the weaker-than-expected rise in quarterly net income was the result of a big currency hit Vale took, despite higher production.

Adjusted earnings before interest, taxes, depreciation and amortization, a good indicator of operating profit, surged 43 per cent to $3.9 billion, matching analysts’ estimates, Reuters said. Continue Reading →

Cobalt27’s Anthony Milewski discusses Vale transaction, cobalt outlook – by Trish Saywell (Northern Miner – July 3, 2018)

http://www.northernminer.com/

Cobalt27 Capital (TSXV: KBLT) recently acquired a US$300-million cobalt stream on Vale’s (NYSE: VALE) Voisey’s Bay nickel-copper-cobalt mine, beginning in 2021. It also has a stream on the Ramu nickel-cobalt mine in Papua New Guinea owned by the Metallurgical Corp. of China, and a net smelter return royalty (NSR) on the construction-ready Dumont nickel-cobalt project owned by RNC Minerals (TSX: RNX) in Quebec.

In total the company has 12 streams and royalties, as well as physical cobalt. In the last five months alone the company has increased its physical stock of cobalt by 800 tonnes to 3,000 tonnes. The Northern Miner recently spoke with Cobalt27’s chairman and CEO, Anthony Milewski, about the company’s investments and his outlook for nickel and cobalt in the emerging electric vehicle (EV) revolution.

The Northern Miner: You have just completed a $300-million equity raise to pay for the cobalt stream in your portfolio from Voisey’s Bay mine in Labrador. Continue Reading →

NEWS RELEASE: Vale Doubles Exploration Efforts in Greater Sudbury Residents can expect to see aerial surveys this summer

Vale-VTEM-Survey-in-Sudbury-Basin

Sudbury, ON — Vale’s Sudbury Operations has nearly doubled its surface and underground exploration budget from approximately $22 million CAD last year to nearly $42 million CAD this year. This includes approximately 30 active exploration projects and 13 drill rigs currently operating in the Greater Sudbury Area.

This increased exploration activity represents Vale’s renewed focus on resource discovery and development to secure our long-term success in the Sudbury Basin and deliver on our future life of mine plans.

Greater Sudbury residents may encounter Vale’s exploration crews working in the field at various exploration sites across the Sudbury Basin this summer. These crews will be working with heavy equipment and residents are asked to remain clear of these active work sites for their safety. Continue Reading →

Rio Tinto, BHP, Vale tipped to report strongest ever quarterly iron ore exports – by Peter Ker (Australian Financial Review – July 15, 2018)

https://www.afr.com/

The world’s three biggest iron ore miners are expected to confirm the industry’s strongest ever quarterly export figures this week, helping to explain recent weakness in prices for the bulk commodity.

Big miners have exercised restraint in both supply and rhetoric in recent years in a bid to calm fears the iron ore market could be flooded with supply, but port statistics suggest the miners’ inexorable export growth reached new heights in the three months to June 30.

Brazilian miner Vale is expected to announce record quarterly production of 96.3 million tonnes when it kicks off reporting season early on Tuesday morning Australian time, and Rio Tinto is expected to report strong numbers of its own several hours later. Continue Reading →

UPDATE 1-Vale notches record Q2 iron ore, pellet output despite trucker strike (Reuters U.K.  – July 16, 2018)

https://uk.reuters.com/

RIO DE JANEIRO, July 16 (Reuters) – Brazil’s Vale SA achieved record iron ore and pellet production for a second quarter despite a nationwide trucker strike that paralyzed Latin America’s largest economy in May, the miner said in a filing on Monday.

Vale, the world’s top iron ore producer, said iron ore output reached 96.755 million tonnes in the period while pellet output hit 12.838 million tonnes, despite the strike over rising diesel prices.

The pickup came after a slip in iron ore production in the first quarter due to heavy rains, and as a campaign in China to cut pollution boosts demand for Vale’s top-quality iron ore. Continue Reading →

Biosolids rejuvenate mining wasteland: Reclamation project at Vale tailings ponds in Copper Cliff wins award – by Karen McKinley (Northern Ontario Business – July 13, 2018)

https://www.northernontariobusiness.com/

In the decades-long efforts to regreen the Sudbury basin, Vale is reporting its Copper Cliff Tailings Project using biosolids is continuing to be successful. So successful, the groundbreaking project recently won an award and plans are in the works to apply it to other reclamation projects.

The Copper Cliff Tailings Project, a joint effort by Vale and Terrapure’s solutions division, Terratec Environmental, has been running for about five years and continues to show positive and even surprising results.

“We are doing this for two reasons: dust control and covering the area with vegetation for long-term closure plans,” said Glen Watson, superintendent of environment decommissioning and reclamation for Vale Canada. It recently won the Water Environment Association of Ontario’s 2018 Exemplary Biosolids Management Award. Continue Reading →

Vale nets enviro award – by Staff (Sudbury Star – July 9, 2018)

http://www.thesudburystar.com/

Vale’s Sudbury Biodiversity Program has been been recognized nationally. Vale received the national Towards Sustainable Mining Environmental Excellence Award from the Mining Association of Canada at an awards gala during the 2018 CIM Convention earlier this year.

“We are proud to be acknowledged for Vale’s biodiversity program in Sudbury,” said Lisa Lanteigne, environment manager for Vale’s Ontario Operations. “The program has been successful because of a sustained commitment to community collaboration and an innovative approach to environmental stewardship. The program exemplifies one of our core company values — Prize Our Planet.”

Vale’s biodiversity work in Sudbury focuses on regreening and reclamation efforts, transforming historically stressed lands and waterways back to their natural states after more than a century of mining activities. To improve biodiversity within the community, Vale undertakes a number of activities, including: Continue Reading →

Japan’s Mitsui may raise its stake in Vale: executive – by Yuka Obayashi and Yoshiyasu Shida (Reuters U.S. – July 6, 2018)

https://www.reuters.com/

TOKYO (Reuters) – Japanese trading house Mitsui & Co (8031.T) may boost its stake in Brazil’s Vale SA (VALE3.SA) if other shareholders sell part of their holdings, a senior executive said, giving it greater influence over the iron ore giant’s management.

Several Brazilian pension funds and BNDESPar, the investment arm of state development bank BNDES have been considering the sale of part of their stakes in Vale, equating to about 3 percent of the miner’s shares in total and worth up to 8 billion reais ($2 billion).

Buying an additional stake was “an option”, Yukio Takebe, Mitsui’s senior executive managing officer who oversees the energy and metals business, told Reuters in an interview on Thursday. Continue Reading →

$23M program aims to create skills, on-the-job training for Indigenous peoples (CBC News Newfoundland-Labrador – June 26, 2018)

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

Voisey’s Bay mine expansion creates hundreds of new job opportunities

Newfoundland and Labrador is teaming up with the federal government on a new $23.6 million-program designed to get more Indigenous people working at the Vale mine in Voisey’s Bay.

On Tuesday, officials from the Nunatsiavut government, Innu Nation, NunatuKavut, Vale, and the federal and provincial governments came together with the College of the North Atlantic (CNA) in Happy Valley-Goose Bay to announce the project.

It’s being led by the Labrador Aboriginal Training Partnership (LATP), and will help train workers for the mine, by giving them hands-on training experiences and skills development. Continue Reading →

Samarco could reach partial deal with Brazil prosecutors on Monday – by Marta Nogueira (Reuters U.S. – June 25, 2018)

https://www.reuters.com/

RIO DE JANEIRO (Reuters) – Samarco, a joint venture between Brazilian miner Vale and Anglo-Australian BHP Billiton, could reach the second phase of a settlement with Brazilian prosecutors over a 2015 environmental disaster on Monday, a federal prosecutor said.

The mining disaster, Brazil’s worst on record, was caused by the bursting of a tailings dam and killed 19 people. Samarco’s operations have been suspended since then.

“This deal we are negotiating is aimed at perfecting the governance system of (a prior agreement), creating reports and damage assessments and empowering those affected,” Brazil’s federal prosecutor for the case José Adércio Sampaio said, without offering details. Continue Reading →

NEWS RELEASE: Terrapure’s Terratec division awarded for innovative mine reclamation program with Vale Canada

Canada’s leading environmental service provider solves a municipal problem and a mining problem with one, sustainable, cost-saving approach.

BURLINGTON, ONT., June 25, 2018 – Terratec Environmental, a division of leading environmental solutions provider Terrapure, has established a new, sustainable option for managing biosolids during winter months, when farmland application is prohibited and storage is complicated.

Instead of disposing of a nutrient-rich resource through incineration or landfill, Terratec developed a program to apply biosolids to mine-impacted land for reclamation and revegetation. Acknowledging this significant contribution to the field, the Water Environment Association of Ontario (WEAO) presented Terrapure and Vale with the 2018 Exemplary Biosolids Management Award.

“The program is the first of its kind in Ontario, so we’re excited to see that it’s gaining momentum; the mining industry is now identifying biosolids as a key strategy in mine closure scenarios,” said Jeff Newman, Director of Business Development at Terratec. “This approach is a real win-win. Municipalities get an off-season biosolids management alternative, and mining companies get an effective tailings cover system.” Continue Reading →

Mineral deposits at Voisey’s Bay ‘exquisite,’ says geology professor – by Terry Roberts (CBC News Newfoundland and Labrador -June 19, 2018)

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

Experts call Labrador operation ‘perfect battery metals mine’

Questions about the fate of mining operations at Voisey’s Bay over the past year have been replaced by unbridled hope and enthusiasm.

A green light for a multibillion-dollar underground expansion, a lifespan extended by many years, a workforce that will nearly double, and an operation poised to capitalize on what many expect will be an explosion in the demand for electric vehicles in the coming years.

You only need to pick up a metallurgical core sample from Voisey’s Bay to understand what all the hype is about, and you don’t need to be a geologist to know you’re holding something unique. Continue Reading →