Vale – Page 14 – Republic of Mining

Vale’s Sudbury operations face challenge and opportunity, COO says – by Jim Moodie (Sudbury Star – February 11, 2020)

February 12, 2020

https://www.thesudburystar.com/

Demand for nickel will grow, but there is ‘unparalleled competition’ to supply the metal, Dino Otranto says

The future looks bright, if challenging, for Sudbury’s biggest miner, members of the local business community heard Tuesday.

“We have fundamentally a fantastic business,” said Dino Otranto, the new boss of base metals with Vale, at a Greater Sudbury Chamber of Commerce luncheon. “There is great opportunity and great potential, but we’ve got some hard work to do, and that’s the message — we truly have a transformation ahead of us.”

Otranto, appointed last year as COO for Vale’s North Atlantic Operations, said there is still an ample supply of ore in the Sudbury Basin and demand for nickel and other metals will only grow with the expansion of the electrical-vehicle market.

Murder charges in Vale dam collapse case complicate Brazilian probes – by Marta Nogueira (Reuters U.S. – January 27, 2020)

January 28, 2020

https://www.reuters.com/

RIO DE JANEIRO (Reuters) – The filing of murder charges against the former CEO of Brazilian miner Vale SA and 15 others for a 2019 dam collapse that killed more than 250 people was hailed by victims’ families as a major step in bringing those responsible to justice.

But the move by state prosecutors in Brazil’s Minas Gerais risks driving a wedge between their investigation and a parallel probe at the federal level, complicating the judicial process and potentially making convictions less likely, according to a lawyer with knowledge of the case and other legal experts.

Federal investigators are yet to identify the cause of the Jan. 25, 2019 collapse of a tailings dam at the Corrego do Feijao iron ore mine dam east of Brumadinho, which released a sea of mud that slammed into Vale’s offices and cut through a nearby community, killing 259 people and leaving 11 still missing. It was one of the world’s worst mining tragedies.

OPINION: From sulphur to solar: A big idea for Sudbury’s Superstack – by Jason McLennan (Northern Ontario Business – January 24, 2020)

January 24, 2020

https://www.northernontariobusiness.com/

Sudbury’s story is inextricably linked to our Superstack. The story is not just environmental degradation. It is also inextricably connected to the planting of millions of trees, the extraordinary recovery of our lakes, the enriching of our depleted soils, and the return of biodiversity.

Growing up in Sudbury meant being associated with the Superstack, which I thought was a ‘cloud-making machine’ when I was really young. I didn’t understand the environmental legacy. What I knew at a young age was that we were here because of nickel.

This symbol of our city and Canada’s second tallest structure represents massive possibility. Once gone, a big piece of the city’s identity and story will be lost, along with the opportunity to remake this emblem of Sudbury’s environmentally dark past into one of a regenerative future.

Sudbury: MiningWatch Canada pushes for global review of safety of tailings dams (CBC News Sudbury – January 23, 2020)

January 24, 2020

https://www.cbc.ca/

Third party would review engineering and ground conditions, says MiningWatch spokesperson

State prosecutors in Brazil have charged Fabio Schvartsman, the former chief executive of the mining company Vale, and 15 other people with homicide in connection with a tailings dam disaster last January that killed more than 250 people.

Jamie Kneen is communications and outreach coordinator with MiningWatch Canada. Kneen said his organization is pushing for a global review of the safety of tailing dams.

“We really need an independent third party with a lot of clout and credibility to have the authority to go in and investigate and look at the engineering but also the ground conditions,” he said. Vale and the company responsible for inspecting the dam have also been charged with environmental crimes.

Brazil charges ex-Vale CEO with homicide for dam disaster – by Marta Nogueira (Reuters U.S. – Janaury 21, 2020)

January 22, 2020

https://www.reuters.com/

RIO DE JANEIRO (Reuters) – Brazilian state prosecutors on Tuesday charged Fabio Schvartsman, the former chief executive of mining giant Vale SA, and 15 other people with homicide for a dam disaster last year that killed more than 250 people, according to the charging document seen by Reuters.

In addition to homicide charges, Vale and TUV SUD, the German company responsible for inspecting the dam, were charged with environmental crimes. Of the 16 individuals charged, 11 had worked for Vale and five for TUV SUD, prosecutors said.

The charges, which were presented nearly a year after the collapse of a Vale tailings dam in the state of Minas Gerais, represent a major step forward in Brazilian authorities’ attempt to hold individuals criminally responsible for the disaster.

Pollution insurance costs to jump for U.S. tailings dams after Vale disaster – by Suzanne Barlyn (Reuters U.S. – January 21, 2020)

January 21, 2020

https://www.reuters.com/

The 2019 mining disaster in Brazil is expected to lead to a double-digit jump in costs to insure U.S. tailings dams that store mining waste against liability for environmental catastrophes.

Tailings dams, some of which tower dozens of meters high and stretch for several kilometers (miles), are the most common waste-disposal method for mining companies, whether they extract iron ore, gold or copper.

The deadly collapse last January of the dam at Vale SA’s Corrego do Feijao iron ore mine in Brumadinho rocked the mining industry and spurred calls for massive operational changes. At least 259 people were killed here in the incident.

NEWS RELEASE: VALE AND THE UNITED STEELWORKERS RAISE OVER $470,000 FOR UNITED WAY CENTRAIDE NORTH EAST ONTARIO (January 16, 2020)

January 17, 2020

SUDBURY, January 16, 2019 – Vale and The United Steelworkers announced today that together with Vale’s 50% match to employee contributions, $473,278 has been raised in a joint fundraising campaign for the United Way Centraide North East Ontario (UWCNEO).

“I’m proud of this longstanding and shared tradition of generosity between Vale and the United Steelworkers and want to thank each and every employee who contributed to this campaign,” said Dino Otranto, Chief Operating Officer of Vale’s North Atlantic Operations and Asian Refineries. “It’s indicative of the genuine care and interest our employees have in supporting our community.

Vale matches 50 cents to every dollar employees donate to the UWCNEO. Employees can contribute via a payroll deduction program or in lump sum payments.

“United Steelworkers Local 6500 are honoured to continue supporting the United Way’s 38th annual fundraising campaign,” said Nick Larochelle, President of USW Local 6500.

Vale’s biggest problem won’t be easy to fix – by Vinícius Andrade and Sabrina Valle (Australian Financial Review/Bloomberg – Janaury 17, 2020)

January 17, 2020

https://www.afr.com/

São Paulo | In the weeks and months after Vale’s deadly dam disaster, some of Brazil’s biggest investors snatched up shares in a bet they’d bounce back and then keep rising.

A year later, the gamble paid off, but with a caveat: The stock rebounded, but Vale’s reputation hasn’t — and that’s the problem. Vale still trades at a discount of at least 20pc to peers BHP and Rio Tinto, based on enterprise-value-to-expected-Ebitda ratio.

While the world’s largest iron ore producer, like all miners, has struggled with plenty of environmental issues in the past, there’s no denying that a company’s green credentials suddenly matter now more than ever.

Exclusive: Brazil prosecutor aims to charge Vale within days over mining waste dam disaster – by Marta Nogueira and Christian Plumb (Reuters U.S. – January 8, 2020)

January 9, 2020

https://www.reuters.com/

BELO HORIZONTE, Brazil (Reuters) – A Brazilian state prosecutor expects to bring criminal charges “in the next few days” against miner Vale (VALE3.SA) over a mining waste dam collapse that killed at least 259 people, even as the prosecutor’s federal counterpart continues to investigate the case.

Andressa de Oliveira Lanchotti, coordinator for the task force of state prosecutors investigating the disaster, told Reuters they expect to indict 15 to 20 people, including executives from Vale and employees from German inspection firm TÜV SÜD – as well as the companies themselves.

“What we can take away from the investigations is there were several factors pointing to risk – the risk was not unknown,” Lanchotti said, disputing Vale’s contention that it had no way of knowing that the dam that unleashed an avalanche of mining waste on the Brazilian town of Brumadinho in January 2019 posed a danger.

Vale files $1-million lawsuit, CBC report says – by Staff (Sudbury Star – December 17, 2019)

December 18, 2019

https://www.thesudburystar.com/

A half-dozen people profited in a complex fraud scheme through a Vale mill, according to a civil suit filed in Ontario Superior Court in Toronto.

The document, which was obtained by CBC, alleges former Clarabelle Mill superintendent Lee MacIsaac, along with maintenance supervisor William Auger and parts coordinator Yvan Lecuyer, conspired to pocket at least $1 million through payments on maintenance work that was never performed.

None of the allegations have been proven in a court of law. The suit also names three men affiliated with contracting companies as collaborators in the scheme: Felix Vazquez of Metso Minerals, John Vasconcelos of E.S. Fox Ltd., and Jason Bettiol of ABS Manufacturing.

Vale report blames water level for Brazil mining waste dam disaster – by Christian Plumb and Luciano Costa (Reuters U.K. – December 12, 2019)

December 12, 2019

https://uk.reuters.com/

SAO PAULO (Reuters) – The deadly collapse of a Vale SA’s mining waste dam in Brazil was partially triggered by “a persistently high water level” that caused the structure to lose strength and stability, according to a report by a panel of experts appointed by the company’s lawyers.

The report, released by Vale on Thursday, said there was no warning the dam was unstable, and no seismic activity or explosions in the area were recorded before it burst in late January. The dam collapse unleashed an avalanche of mining waste on the Brazilian town of Brumadinho, killing at least 155 people.

The report examined technical factors leading to the disaster rather than issues of liability. It came less than four years after another dam collapse at a joint venture between Vale and BHP Group in the same region, an accident that experts also blamed on water weakening the solid materials composing the dam so that they behave more like a liquid – a phenomenon known as liquefaction.

Backes expects China may get New Caledonia nickel stake (RNZ.co.nz – December 9, 2019)

December 10, 2019

https://www.rnz.co.nz/

New Caledonia’s Southern Province president has indicated that the Brazilian miner Vale may well have no option but to sell its assets in New Caledonia’s south to Chinese investors.

Sonia Backes said this year Vale had lost $US200 million. She said in its current state, Vale would not find a buyer and therefore she was in favour of the company adopting a new strategy.

Ms Backes made the comment in an interview with the Nouvelles Caledoniennes days after Vale put its plant at Goro up for sale, with yet to be determined job losses.

New boss at Vale – Dino Otranto – favours improved safety and being more competitive – by Len Gillis (Northern Ontario Business – December 5, 2019)

December 5, 2019

https://www.northernontariobusiness.com/

“We have an abundance of ore here, one of the top three nickel-copper orebodies
in the entire world, right here. We haven’t really scratched
the surface of the potential of that orebody,” Dino Otranto said.

Dino Otranto, the new man at the helm of Vale Base Metals in Canada, said he is more than pleased with the level of commitment from Vale employees. He was equally overwhelmed at the level of innovation and technology being used to keep the company successful. Just as important, he said, is the critical need to be more competitive.

Otranto, who has a blue chip mining résumé stretching back to the early 2000s, is the new chief operating officer for Vale’s North Atlantic Operations and Asian Refineries. Prior to that, he was the company’s chief technology officer based in Toronto.

As he spoke recently from his office in Sudbury, Otranto said he had no plan to shake things up when he moved into his role earlier in 2019.

Vale to exit New Caledonia, eyes Indonesia to boost nickel output – by Eric Onstad and Barbara Lewis (Reuters U.S. – December 4, 2019)

December 5, 2019

https://www.reuters.com/

LONDON (Reuters) – Brazil’s Vale SA plans to exit its troubled New Caledonia assets but still aims to ramp up nickel output ahead of rising demand for electric batteries, executives said on Wednesday.

The planned divestment of nickel operations in New Caledonia comes after Vale said last month it would write down the mine and incur a non-cash impairment charge of about $1.6 billion in the fourth quarter.

A year ago, the world’s top nickel producer unveiled plans to invest $500 million in the mine after failing to find a partner for the operation.