Archive | Vale

The Winners and Losers From Surging Iron Ore Prices – by Michael Msika (Bloomberg/Yahoo Finance – June 21, 2019)

https://finance.yahoo.com/

(Bloomberg) — In the world of metals and mining, sometimes it’s better to sell the raw product rather than the finished one.

This seems to be a lesson for investors who chose to hold shares in ArcelorMittal rather than Rio Tinto Group this year. Despite nagging trade tensions and fears about global growth, Rio is up 30% in 2019, while the world’s biggest steelmaker has dropped 16%.

Global diversified miners have rewarded investors with record payouts and benefited from soaring iron-ore prices due to the supply concerns that followed Vale SA’s dam disaster in January. At the same time, Chinese mills have continued to set new production records, consuming more of the steelmaking ingredient. Continue Reading →

Sudbury: Vale opens the books on Sudbury tailings dams following collapse in Brazil (CBC News Sudbury – June 19, 2019)

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

Mining giant releases report detailing its dozens of tailings dams in the Sudbury basin

Vale says it is currently doing work to stabilize some of its tailings dams in Sudbury, but stresses that there is no risk to the public.

The company this month released a report on the state of its dams around the world that it says was asked for by a large group of investors represented by the Church of England, following the collapse of a Vale dam in Brazil in January that killed 270 people.

The report includes dozens of dams that Vale manages in the Sudbury basin to hold mining waste, some dating back to 1929. Continue Reading →

Manitoba: Rupture of Thompson’s tailing dams could kill nearly 100 people, Vale reveals – by Ian Froese (CBC News Manitoba – June 17, 2019)

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

Active mine dam in Thompson, Man., records a ‘very high’ hazard rating

A mining giant reeling from a deadly dam collapse in Brazil says it is investigating one of its dams in Thompson, Man., over fears a rupture could kill as many as 100 people.

Vale revealed one of the six active mine dams in the northern Manitoba city recorded a “very high” hazard rating, as determined by the Canadian Dam Association, which means a collapse could result in up to 100 deaths, significant loss of environmental and cultural values and “very high economic losses” affecting important infrastructure.

The mining company disclosed the safety of its dam operations worldwide, after facing pressure from the Church of England Pensions Board and a group of Swedish investors in the wake of a January dam failure at Brumadinho, Brazil, that killed 270 people. Continue Reading →

After rubbing shoulders with U.S. presidents, Sudbury’s Leo Gerard coming home for retirement – by Heidi Ulrichsen (Northern Ontario Business – June 12, 2019)

https://www.northernontariobusiness.com/

Veteran USW boss speaks of growing up in Lively, his long career (including dancing with Michelle Obama) and his lasting impressions of a historic strike in Sudbury

After a career in which he rubbed shoulders with world leaders – including U.S. presidents Donald Trump and Barack Obama – Steelworkers International president Leo Gerard said he’s retiring to his hometown of Sudbury. He said he still has a home and a camp here, despite working out of Pittsburgh.

“My kids and my grandkids are getting old,” said Gerard in a recent interview with Sudbury.com following the announcement last month he’s retiring as of mid-July. “I’ve got a camp on Nepewassi. I didn’t put my boat in for three years.”

The 72-year-old Gerard, who’s served the Steelworkers for more than 50 years, has been the Steelworkers International president since 2001. His successor is Tom Conway, who has served alongside Gerard as Steelworkers International vice-president. Continue Reading →

Vale says hopes to reach dam burst global settlements by year-end – by Marta Nogueira (Reuters U.S. – June 13, 2019)

https://www.reuters.com/

RIO DE JANEIRO (Reuters) – Brazil’s Vale said on Thursday that it expects to reach global settlements covering economic and environmental damages from the January collapse of its Brumadinho tailings dam by late this year or in 2020.

Vale is scrambling to deal with the fallout from the disaster, which killed at least 246 people, triggered the replacement of its CEO and an overhaul of its board, and has forced it to set aside billions for compensation and cleanup costs.

Investors have been closely watching its ongoing talks with prosecutors and regulators on the terms of a global settlement to see how much higher the price tag from the disaster will be. Continue Reading →

Dozens of Rio tailings dams would be high hazards if they failed – by Darren Gray (Sydney Morning Herald – June 12, 2019)

https://www.smh.com.au/

Dozens of Rio Tinto tailings dams around the world would generate a “high” hazard if they were to fail, according to an audit of the global miner’s tailings dams.

The audit, released late on Wednesday, reveals just over 40 of Rio Tinto’s tailings storage facilities are deemed to have at least a “high” hazard consequence in the event of a failure, including three that were assigned a “very high” rating.

The three deemed “very high” are all outside of Australia, with one in Chile, one in Brazil and the other in Canada. Mining companies have faced intense scrutiny of their approach to tailings dams after the devastating collapse of a dam in January at Vale’s Brumadinho iron ore mine in Brazil. Continue Reading →

Mine tailings failures are the shame of the mining industry – by Len Gillis (Sudbury Mining Solutions Journal – June 2019)

http://www.sudburyminingsolutions.com/

Mining engineer Paul Rantala of Sudbury is hoping more people in his industry will take a fresh look at the issue of tailings dams safety. He is not alone.

Rantala was commenting on the disastrous failure of the tailings dam at the Córrego de Feijão mine, near the community of Brumadinho in Brazil on January 25, 2019. It is believed that more than 400 persons died when millions of litres of mud and tailings swept through a low-lying area for several kilometres.

The tailings failure occurred at the mine owned by Vale S.A., an international mining company based in Brazil, which also has several operations in Sudbury. Continue Reading →

Vale, Glencore both earn medals at annual mine rescue challenge – by Staff (Sudbury Northern Life – June 10, 2019)

https://www.sudbury.com/

Jean-Yves Doiron, a mine rescue technician with Vale Canada in Sudbury, won the award for top technician

Mine rescue volunteers from K+S Windsor Salt Ojibway Mine donned the champions’ gold hard hats at the 70th annual Ontario Mine Rescue Provincial Competition last week. The event was held this year at the Red Lake Gold Mines in Red Lake, Ont.

K+S Windsor Salt Ojibway Mine was also awarded the John Guthrie (Special Equipment) Award during the closing banque June 7. The team won the Southern District mine rescue competition in Goderich in May.

The Windsor Salt mine rescue team consisted of: Captain Adam Schraeder, No. 2 Al Gernon, No. 3 Dillon Perry, No. 4 Joe Schraeder, Vice-captain Phillip Schraeder, No. 6 Ethan Kirby, Briefing Officer Matt Stefanic. Continue Reading →

Swiss expert to start work on new standards for mining dam safety – by Barbara Lewis (Reuters U.S. – June 9, 2019)

https://www.reuters.com/

LONDON (Reuters) – A Swiss environmental expert will make a fact-finding trip this week to the site of the Vale dam disaster in Brazil to start work on setting new dam safety standards for miners.

The safety of dams used to store mining waste, known as tailings, gained prominence after the collapse of Vale’s dam at Brumadinho, Brazil in January that killed about 250 people. It was the second Vale tailings dam collapse in Brazil in less than four years.

The International Council on Mining and Metals (ICMM) said in March it was working on new standards with the U.N. Environment Programme (UNEP) and ethical investors’ body the Principles for Responsible Investment (PRI). Continue Reading →

Major miners reveal tailings dam data, action plans following disasters – by Shriya Ramakrishnan and Sangameswaran S (Reuters U.S. – June 7, 2019)

https://www.reuters.com/

(Reuters) – Global miners BHP Group, Anglo American Plc and Glencore Plc revealed details on tailings dams, months after ethical investors sought the information following a second deadly dam disaster in Brazil.

BHP, which operates 67 tailings facilities, said on Friday it has set up a tailings taskforce to further improve its focus on internal dam management and boost safety.

The world’s biggest miner added that a review undertaken to assess the management of tailings facilities following the 2015 Samarco disaster, which killed 19 people, had identified no immediate concerns regarding dam integrity. Continue Reading →

COLUMN: ‘Moonscape’ Sudbury deserves global recognition for its environmental success – by Dr. John Gunn (Northern Ontario Business – June 7, 2019)

https://www.northernontariobusiness.com/

Dr. John Gunn is the Canada Research Chair in Stressed Aquatic Systems and the director of the Vale Living with Lakes Centre in Sudbury.

Michael Moore’s recent documentary film about lead in drinking water in Flint Michigan has catapulted that city onto a growing list of places known for environmental disasters, including Chernobyl, Love Canal, Minamata, Bhopal, London with its great deadly smog of 1952, and the little town of Walkerton, Ontario, where seven died and more than 2,000 became sick because of E. coli contamination.

Positive environmental stories from specific places also exist, but like the evening news, the positive stories never get quite as much attention.

There are, however, some wonderful examples, such the Montréal Protocol and the Paris Accord, where a city’s name is forever linked to an event where world leaders came together to address global threats to the environment, such as the ozone depleting compounds in the atmosphere, or the severe threats of climate change. Continue Reading →

New mining manager outlines his vision for Vale at Thompson chamber meeting – by Kyle Darbyson (Thompson Citizen – June 5, 2019)

https://www.thompsoncitizen.net/

Gary Eyres tells business owners about nickel concentrate, electric cars and new exploration initiatives

After three months on the job, Vale’s latest mining manager Gary Eyres spoke at the Thompson Chamber of Commerce meeting May 29. Throughout his 44-minute presentation, Eyres outlined what Vale’s Manitoba Operations look like right now and where they are headed in the future.

The Australian went over Vale’s current status as a strictly mining and milling operation in Thompson since its smelter and refinery shut down for good back in late 2018.

However, Eyres said the concentrate load-out facility completed about a year ago allows the company to ship out 14 to 16 trucks’ worth of concentrate to Sudbury, Ontario for processing every day. Continue Reading →

UPDATE 1-Slow landslide at Vale’s Gongo Soco reduces risk to dam – by Gram Slattery (Reuters U.S. – May 31, 2019)

https://www.reuters.com/

RIO DE JANEIRO, May 31 (Reuters) – A closely watched embankment at a Brazilian iron ore mine run by Vale SA has begun to slide slowly into the bottom of a mining pit, the company said on Friday, reducing concerns that a sudden landslide would trigger a dangerous dam collapse.

Authorities had initially feared that a landslide at Vale’s Gongo Soco mine could destabilize the nearby Sul Superior dam, wreaking havoc on a nearby town. However, the dam remains intact, Vale said.

An environmental official for the state of Minas Gerais had previously estimated a 10-15% chance of the Sul Superior dam losing integrity due to tremors from the expected landslide. Continue Reading →

Sagamok Anishnawbek secures haulage contract for Sudbury Vale Totten Mine (Northern Ontario Business – May 31, 2019)

https://www.northernontariobusiness.com/

Agreement stemming from long-term IBA with Vale takes effect June

Z’Gamok Construction LP, a corporation owned by the Sagamok Anishnawbek First Nation, has secured the ore haulage contract for Vale’s Totten Mine, located about 40 minutes southwest of Sudbury.

In a May 30 news release, Sagamok Chief Nelson Toulouse heralded the news as a historic development for the First Nation, noting the new agreement would enable “greater control over the contract, create more job opportunities and revenue for Sagamok Anishnawbek.”

“This will mean more employment for our community members; therefore, require more equipment and trucks to complete the terms and conditions of the contract,” Toulouse said. Continue Reading →

Brazil’s iron ore industry misery, a boom for Australian big miners (Merco Press – May 29, 2019)

https://en.mercopress.com/

Iron ore prices look set to be stronger for longer, potentially delivering windfall profits for West Australia’s big miners for the next two years.

As the iron ore price hit a five-year high of US$107.50/t this week, analysts have begun scrambling to revise their estimates as they start to digest the impact of supply disruptions out of Brazil and how long the outages could linger.

Iron ore giant Vale has been forced to close mines in Brazil, representing about 90 million tons of annual product, after a tailing dam disaster in January which killed hundreds. The company is facing another dam failure at one of its inactive mines and its 30mtpa Brucutu mine remains closed with lingering uncertainty as to when it can reopen. Continue Reading →