Archive | Vale

Vale’s Gongo Soco mine dam has up to 15% chance of bursting: Brazil official (Reuters U.S. – May 20, 2019)

https://www.reuters.com/

SAO PAULO (Reuters) – Brazilian miner Vale’s tailings dam in the town of Barao de Cocais in Minas Gerais has up to a 15% chance of breaking, the state’s environment secretary said on Monday.

The dam at Vale’s Gongo Soco mine is about 40 miles (64 km)from Brumadinho, where a tailings dam collapse unleashed a torrent of toxic mud in late January, killing more than 240 people.

Environment Secretary Germano Vieira disclosed the estimate after discussing the matter with prosecutors and the company itself. Continue Reading →

What The Heck Is That? — Our industrial Lake Louise – by Jim Moodie (Sudbury Star – May 16, 2019)

https://www.thesudburystar.com/

Few people would mistake Sudbury for Banff, and yet there is one spot just northwest of the city off MR 35 that I like to think of as our own little Lake Louise.

Easily spied on the west side of the road near the turnoff to William Day Construction, its surface is a vivid turquoise that has no doubt caught the attention of a few passing motorists other than myself.

It jumps out just as much, if not more, when you look at it from an aerial, satellite perspective in Google Maps, its hue so distinct from the other water bodies around it — more San Jose teal than Maple Leafs blue. Continue Reading →

Vale warns Brazil prosecutors another dam at risk of collapse – by Marta Nogueira (Reuters U.S. – May 16, 2019)

https://www.reuters.com/

RIO DE JANEIRO (Reuters) – Brazilian iron ore miner Vale SA told prosecutors in the state of Minas Gerais that a dam is at risk of rupturing at its Gongo Soco mine, about 40 miles from where its Brumadinho dam collapsed, killing more than 230 people.

According to a document published on Thursday, prosecutors said Vale is predicting the dam in the city of Barao de Cocais may collapse next week if the current rate of movement in the embankment of the mine pit close to the dam is maintained.

The warning underlines ongoing concern about the stability of dams in Brazil’s mining heartland of Minas Gerais in the aftermath of the Brumadinho accident, which itself came less than four years after another deadly dam collapse at a joint venture between Vale and BHP Group. Continue Reading →

Vale still confident about nickel prices – by Staff (Sudbury Star – May 11, 2019)

https://www.thesudburystar.com/

A deadly dam disaster in its home country of Brazil has put Vale SA in the red. On the bright side for Sudbury, however, the company remains cautiously optimistic about the demand and price for nickel.

Bloomberg News reports Vale suffered the first quarterly loss since late 2015 as the company set aside funds to cover damages, legal costs and other obligations related to the dam disaster that left hundreds dead in January.

The agency said he world’s largest iron ore producer set aside US$4.5 billion and posted a loss of $1.64 billion as the company comes under strict government scrutiny that resulted in authorities freezing billions of dollars of its assets to ensure the victims will be compensated and environmental remedies will be implemented. Continue Reading →

NEWS RELEASE: Vale Canada and Terrapure win Environmental Leader Award for innovative mine rehabilitation project

Teaming up to solve a municipal and mining problem with a sustainable, cost-saving approach has earned Vale and Terrapure recognition for Project of Year

SUDBURY, ONT., May 15, 2019 – Terrapure Environmental® (Terrapure) and Vale Canada received an Environmental Leader Award for Project of the Year for their new, sustainable option for managing biosolids during winter months, when farmland application is prohibited and storage is complicated.

Instead of incinerating or landfilling nutrient-rich organics, Terrapure worked with Vale to develop a program to apply treated biosolids to its Central Tailings Area for reclamation and revegetation. It was the first project of its kind in Ontario. Continue Reading →

Vale exploring dry stacking/magnetic separation to eradicate tailings dams – Posted by Daniel Gleeson (International Mining – May 13, 2019)

International Mining

Vale has confirmed a Reuters news report from last week stating that it would spend an additional BRL11 billion ($2.5 billion) on dry iron ore processing over the next five years.

The company said it has invested nearly BRL66 billion installing and expanding the use of dry processing, using natural moisture, in iron ore production in its operations in Brazil over the last 10 years and it would carry on this trend.

“By not using water in the process, no tailings are generated and, therefore, there is no need for dams,” the company said, added that about 60% of Vale’s production today is dry, and the goal is to reach 70% in the next five years. Continue Reading →

Column: Iron ore tugged between Brazilian supply shock, Trump’s trade war – by Clyde Russell (Reuters U.K. – May 7, 2019)

https://uk.reuters.com/

LAUNCESTON, Australia (Reuters) – Iron ore prices look increasingly caught between the bullish reality of lower supply from Brazil and the bearish possibility of weaker demand if President Donald Trump carries out his threat to ramp up his tariff war against China.

The price action in the wake of Trump’s Twitter threat on Sunday to ramp up tariffs on $200 billion of imports from China to 25 percent was indicative of iron ore’s dilemma.

Iron ore futures on the Dalian Commodity Exchange, the most liquid market for the steel-making ingredient, dropped in early trade as investors fretted that the trade talks between the United States and China had been effectively derailed. Continue Reading →

BHP faces $5 billion claim over 2015 Brazil dam failure – by Kirstin Ridley and Barbara Lewis (Reuters U.S. – May 7, 2019)

https://www.reuters.com/

LONDON (Reuters) – Anglo-Australian mining giant BHP is facing a landmark, $5.0 billion damages claim in England for being “woefully negligent” in the run-up to a 2015 dam failure that led to Brazil’s worst environmental disaster, a lawsuit alleges.

The claim, which will be largest group action to be heard in England, was served on the miner on Tuesday on behalf of 235,000 Brazilian individuals and organizations, including municipal governments, utility companies, indigenous tribes and the Catholic Church, according to law firm SPG Law.

BHP spokesman Neil Burrows said the miner intended to defend itself against the proceedings, brought in the north western English city of Liverpool. Continue Reading →

Vale’s latest legal blow boosts iron ore stocks – by Brad Thompson (Australian Financial Review – May 7, 2019)

https://www.afr.com/

Australia’s booming iron ore stocks are tipped to stay higher for longer in the wake of the latest blow to Brazilian producer Vale’s plan to reopen mines that were shuttered in the wake of the tragic Brumadinho tailings dam collapse.

Vale was forced to suspend work at its 30 million tonne-a-year Brucutu mine on Monday after a Brazilian court overturned an earlier ruling that it could reopen.

The ruling from the higher court came as Vale said it expected sales of iron ore and pellets to be at the low to mid-end of previous guidance of 307 million tonnes to 332 million tonnes in 2019. Continue Reading →

Sudbury: No charges to be laid against Vale after investigation of potentially toxic slag run-off – by Erik White (CBC News Sudbury – April 26, 2019)

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

Mining company currently building new drainage system to contain slag run-off

Environment Canada has decided not to lay charges against Vale for potentially dangerous run-off leaking from its Sudbury slag piles. But the mining company is currently installing a new system for controlling the slag seepage, work it says is unrelated to the government investigation.

Environment Canada refused an interview with CBC, but said in a statement that it began investigating contaminated water coming from the Sudbury slag pile after a complaint from the public in 2012.

Court documents filed to obtain a search warrant for Vale offices in 2015 allege that someone discovered green foam in a creek near the slag piles on Big Nickel Mine Road that had high levels of nickel and other metals. Continue Reading →

Iron ore shortage after Vale disaster hurting Brazil steelmakers: report (Reuters U.S. – April 15, 2019)

https://www.reuters.com/

SAO PAULO (Reuters) – A decision by Brazilian mining company Vale SA to halt production at ten sites in Minas Gerais state following a deadly dam disaster has affected deliveries of iron ore pellets to clients, newspaper Valor Econômico reported on Monday, citing industry sources.

Vale is trying to resolve the problem by bringing iron ore pellets produced in the northeastern state of Maranhão to clients in the southeast. The longer distances involved are adding to transportation costs, Valor said.

Vale did not immediately respond to a request for comment on the Valor report. Continue Reading →

Ethical investors ask miners to publish tailings dam details (Reuters U.S. – April 5, 2019)

https://uk.reuters.com/

LONDON (Reuters) – Ethical investors working on a global standard for tailings dams have written to 683 listed resource companies, including major miners, asking for information to be made public within 45 days about every facility they control.

The safety of dams used to store mining waste, known as tailings, has gain prominence after the collapse of a Vale tailings dam in Brazil in January killed an estimated 300 people.

The International Council on Mining and Minerals (ICMM) industry group said in March it was working with the United Nations Environment Programme (UNEP) and the Principles for Responsible Investment (PRI) to develop new standards. Continue Reading →

Church of England scheme gives ultimatum to mining companies – by Stephanie Hawthorne (Pensions Expert – April 5, 2019)

http://www.pensions-expert.com/

On the go: In the wake of the collapse of the tailings dam in Brumadinho, Brazil, which killed at least 84 people and left hundreds missing, 96 institutional investors have been stirred into action.

In an urgent letter, investors, led by the Church of England Pensions Board, have given mining companies 45 days to provide full disclosure on tailings storage facilities under their control. It requests that companies publish the disclosure on their websites within 45 days and ensure that the disclosure is signed by the company’s chief executive or board chair.

The letter, sent on April 5 to 683 listed extractives companies by the CofE Pensions Board and the Swedish Council on Ethics for the AP Funds, is supported by 96 investors with $10.3tn (£7.9tn) in assets under management, including Aegon, Aviva and Hermes. The engagement is also supported by the UN-supported Principles for Responsible Investment. Continue Reading →

COLUMN-Iron ore prices shift structurally higher on Vale woes – by Clyde Russell (Reuters U.S. – April 2, 2019)

https://www.reuters.com/

HONG KONG, April 2 (Reuters) – Iron ore prices in China reached a record high on Tuesday as market participants wrestled two dilemmas, namely the likely temporary weather-related disruptions from Australia and the rather more serious safety outages in Brazil.

A major tropical cyclone hitting the main producing and shipping areas in the world’s largest iron ore miner was always likely to boost prices, and indeed, markets largely responded as expected.

Iron ore futures on the Dalian Commodity Exchange rose 4.2 percent on Tuesday to reach 665.5 yuan ($99) a tonne, the most since the contract starting trading in 2013. Continue Reading →

Iron Ore Thunders Higher as Mine Dams Closed, Exports Collapse – by Krystal Chia (Bloomberg News – April 3, 2019)

https://www.bloomberg.com/

Iron ore’s supply-driven rally picked up pace on Wednesday, with futures topping $90 a ton, amid increasing concern the crisis at Brazil’s Vale SA will be drawn out as regulators ordered dozens of dams to be shut.

Futures for benchmark material rallied as much as 4.1 percent in Singapore, while spot ore climbed to a two-year high and the contract for high-grade ore extended gains above $100 a ton. Barclays Plc raised price forecasts on expectations for a global deficit.

The seaborne market has been roiled this year after top producer Vale suffered a dam breach in January, spurring mine suspensions and concerns there’ll be a shortage. Continue Reading →