Archive | Vale

Vale, Steel remain in talks as workers picket – by Jim Moodie (Sudbury Star – June 2, 2021)

https://www.thesudburystar.com/

Vale workers took to the picket lines Tuesday for the first time in a dozen years after rejecting a tentative deal reached by their union and the company.

“Our membership spoke and they are bringing the message back that concessions are not acceptable,” said Kevin Boyd, vice-president with USW 6500. “And very clearly, a lot of it is in benefits.”

Among the more unpopular changes outlined in the new five-year contract are the removal of retiree health benefits for any new hire and the elimination of over-the-counter drug coverage (except for life-sustaining medication). Continue Reading →

Vale workers in Sudbury reject contract offer and go on strike – by Erik White (CBC News Sudbury – June 1, 2021)

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

Picketlines are up at Vale’s mines, mill and smelter in Sudbury as the union representing 2,400 workers have voted down a tentative agreement with the mining giant.

United Steelworkers Local 6500 says in a statement on its website that 87 per cent of members cast ballots in a ratification vote Monday night and 70 per cent rejected the deal the union bargaining committee was recommending.

“Thank you for your overwhelming support to return us to the bargaining table,” reads the statement. “We are newly energized with this result and are looking forward to bringing your message to the company to let them know our work is not complete.” Continue Reading →

Clock ticking for Steel, Vale negotiators – by Jim Moodie (Sudbury Star – May 28, 2021)

https://www.thesudburystar.com/

The Steelworkers local representing Vale workers is hopeful a strong, multi-year deal can be obtained for its members as negotiations on a new contract continue this week.

“We’re looking for something to compensate us for the work we’ve done over the last year, which has created record profits in some areas,” said a union official who asked not to be named. “We’re expecting to be treated with the care and understanding they say they offer.”

The union agreed last spring to an unusual one-year contract, effective June 1, due to the economic uncertainties brought on by COVID-19. Continue Reading →

Steelworkers seek gains in new contract – by Staff (Sudbury Star – May 25, 2021)

https://www.thesudburystar.com/

This will be a critical week as negotiators for Steelworkers Local 6500 and Vale try to work out a new contract by May 31. That’s when the current labour contract expires.

USW Local 6500 represents more than 2,500 production and maintenance workers in mining, milling, smelting and refining at Vale’s Sudbury operations.

Vale, with almost 4,000 workers, is Sudbury’s largest employer. In Sudbury, it operates five mines, a mill, a smelter and a refinery from one of the largest integrated mining complexes in the world. Sudbury products include nickel, copper, cobalt, platinum group metals, gold and silver. Continue Reading →

” THE STORY OF NICKEL ” 1930s INCO MINING PROMO FILM FROOD MINE SUDBURY, ONTARIO, CANADA


This 1930s black & white educational/promotional film tells “The Story of Nickel”. It was produced by INCO, the International Nickel Company, Ltd., now known as Vale Canada, Limited. INCO as founded following the discovery of copper deposits in Sudbury, Ontario. During World War II, Inco’s Frood-Stobie Mine Mine produced 40% of the nickel used in artillery by the Allies.

For an extensive writeup about Sudbury’s nickel contributions during World War Two: https://republicofmining.com/2016/09/18/incos-sudbury-nickel-mines-were-critical-during-world-war-two-by-stan-sudol/#more-53421

and https://republicofmining.com/2020/07/24/sudbury-basin-nickel-deposits-an-enduring-and-extraordinary-resource-by-stan-sudol-july-24-2020/

Vale mulls base metals spinoff to tap EV market – by Cecilia Jamasmie (Mining.com – April 27, 2021)

https://www.mining.com/

Brazil’s Vale (NYSE: VALE), the world’s no.1 nickel producer, is evaluating a potential spinoff of its base metals division as part of the miner’s growing interest in the electric vehicles (EV) sector.

The company, which is said to be in talks with Tesla and other EV supply chain actors about securing nickel from its Canadian operations, is in the midst of expanding its Voisey’s Bay site in the province of Newfoundland and Labrador.

Vale’s plans include adding an underground mine to the Voisey’s Bay complex, which will produce about 40,000 tonnes of nickel-in-concentrate per year. Continue Reading →

Trafigura Bets on Green-Nickel Squeeze in Defiance of China Cure – by Yvonne Yue Li and Andy Hoffman (Bloomberg News – April 20, 2021)

https://www.bnnbloomberg.ca/

(Bloomberg) — Just weeks after a novel production method upended the nickel market, two of the top names in the battery-supply chain made a play that suggests the world’s worries over sourcing cheap, clean supplies of the metal are far from over.

Commodity trader Trafigura Group and Elon Musk’s Tesla Inc. signed a deal in late March to enter the Goro mine in New Caledonia, part of a group that will take the operation off the hands of Vale SA. The transaction wasn’t a surprise, with Vale in talks to offload the under-performing mine for months. But the deal’s timing was telling.

Earlier the same month, China’s Tsingshan Group triggered the biggest two-day nickel rout in a decade with its plans to make battery-grade metal from materials previously reserved only for stainless steel, potentially flooding the market. Wall Street banks lowered their nickel forecasts after futures plunged from about $19,000 a ton to $16,000. Continue Reading →

Steinmetz loses latest battle against Vale over Simandou – by Cecilia Jamasmie (Mining.com – April 5, 2021)

https://www.mining.com/

Billionaire Beny Steinmetz, the founder and owner of a company embroiled in a long-drawn-out dispute with Vale (NYSE: VALE) over lost rights to the Simandou iron ore project in Guinea, has lost his latest battle against the Brazilian miner.

The Rio de Janeiro-based miner said on Monday that local prosecutors had closed an investigation into CEO Eduardo Bartolomeo, and other executives and former directors over alleged illegal practices related to the deal to explore the deposit.

At two billion tonnes of iron ore with some of the highest grades in the industry, Simandou is one of the world’s biggest and richest reserves of the steelmaking material. Continue Reading →

MEDIA RELEASE: STEELWORKERS RATIFY NEW FOUR AND A HALF YEAR CONTRACT WITH VALE IN SUDBURY (March 31, 2021)

SUDBURY, March 31, 2021 – Vale and United Steelworkers (USW) Local 2020 are pleased to announce that an agreement has been reached on a new four and a half year Collective Bargaining Agreement between Vale, Ontario Operations and USW Local 2020. The new agreement takes effect on April 1, 2021.

“The negotiation process has been both productive and respectful, and we are encouraged that we have been able to reach an agreement that the bargaining committee fully endorsed” said Sherri Hawkes, President of USW Local 2020-05.

“We are pleased that the agreement appropriately meets the needs for both the company and union members” said Mitch Medina, Manager of Employee and Labour Relations for Vale’s North Atlantic Operations. “I feel this is exemplified in the endorsement of the agreement by the USW Local 2020 bargaining committee reflecting the positive collaboration throughout the negotiation process.” Continue Reading →

Trafigura, New Caledonia group complete takeover of Vale’s Goro nickel, cobalt unit – by Diana Kinch (S&P Global – March 31, 2021)

https://www.spglobal.com/

London — The Prony Resources New Caledonia consortium announced March 31 it has completed acquisition of Vale Canada’s Nouvelle-Calédonie S.A.S. (VNC) nickel and cobalt operation. Prony Resources is owned by New Caledonia entities together with international commodities trader Trafigura.

Operations at Prony Resources recommenced in the week of March 28 with the restart of nickel production expected mid-April, the company said in a statement.

The operation, designed to produce up to 57,000 mt/year of processed nickel, with cobalt as a byproduct, is believed to have been at a standstill since mid-December 2020, following protests by independence activists on the Southwest Pacific French island territory of New Caledonia. Prior to this it had been producing below capacity. Continue Reading →

Top Nickel Miner Vale Turns Page on 14-Year New Caledonia Foray – by James Attwood (Bloomberg News – March 31, 2021)

https://www.bnnbloomberg.ca

(Bloomberg) — Vale SA, the biggest producer of mined nickel, closed a deal to divest its underperforming New Caledonian mine to a group that includes the operation’s managers and workers.

The divestment will allow operations to continue and gives Vale the right to a portion of output amid growing demand for the battery metal, Rio de Janeiro-based Vale said in a statement Wednesday.

Tesla Inc. will support the operation through a “technical and industrial partnership” with the consortium, called Prony Resources. Continue Reading →

Vale sells New Caledonia nickel assets to Trafigura – by Cecilia Jamasmie (Mining.com – March 31, 2021)

https://www.mining.com/

Vale (NYSE: VALE) said on Wednesday it had concluded the sale of its nickel and cobalt operations in New Caledonia, a French territory in the Pacific, to a consortium called Prony, which includes commodity trader Trafigura.

While the Brazilian miner did not disclose the exact terms of the deal, it said that $1.1 billion will be invested in the New Caledonia assets, with $555 million coming from its subsidiary Vale Canada Ltd.

“Vale’s intent from the beginning of the divestment process was to withdraw from New Caledonia in an orderly and responsible manner. This deal accomplishes that,” chief executive Eduardo Bartolomeo said in the statement. Continue Reading →

Vale’s search for new mines, reserves continues in Sudbury – by Harald Carmichael (Sudbury Star – March 24, 2021)

https://www.thesudburystar.com/

These are interesting times for Vale’s operations in Sudbury and Canada. World nickel prices are high, but so are inventories. The electric vehicle market, which will need substantial quantities of nickel for the batteries to power those vehicles, is poised to take off globally.

The nickel reserves now being mined in Greater Sudbury and Thompson, Man., however, are starting to head into their senior years.

And while there are numerous projects in the early stages of development or on the books to replace those long-standing operations, Vale’s North Atlantic operations are embarking on a much-different business approach as they head into the next decade and beyond. Continue Reading →

Massive new port could give Vale back iron ore crown – by Bruno Venditti (Mining.com – March 18, 2021)

https://www.mining.com/

Global production of iron ore products reached 2.2 billion tonnes in 2020 and is expected to reach 2.35 billion tonnes in 2021, according to Fastmarkets.

Despite the covid-19 pandemic, Chinese demand and Brazilian supply constraints have propelled iron ore prices to decade-highs above $175 a tonne this quarter.

Global total exports amounted 1,170 million tonnes in 2020, 9.3% higher than in 2019. Total China imports exceeded 73% of the world total shipped. Continue Reading →

Vale returns to profit, eyes ‘dramatic opportunity’ for nickel – by Staff (Mining Journal – March 2, 2021)

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

Adjusted EDITDA rose 20% to $4.2 billion, after $4.8 billion in expenses of which $3.9 billion was related to the R37.7 billion (US$7 billion) Brumadinho settlement reached in January.

Vale’s ferrous minerals division achieved its second largest adjusted EBITDA of $8.8 billion, thanks to a 17% rise in realised prices and 26% higher sales volumes compared with the third quarter.

It put its iron ore fines and pellets C1 cash cost ex-third party purchases up slightly, quarter-on-quarter, at $12.70/t, while the cash cost (ex-ROM, ex-royalties) FOB was $15.30/t. Continue Reading →