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Vale S.A. (0LBF.L)
- Reuters SG
UPDATE 1-China's 2024 iron ore imports seen 1.17-1.18 bln metric tons- Vale
Imports of iron ore by China, the world's biggest buyer, in 2024 are expected to be around 1.170 to 1.180 billion metric tons, similar to last year's 1.18 billion tons, a senior official of miner Vale said on Wednesday. "In the near term, we are still seeing strong resilience in the Chinese economy, although the property market is slowing down in the next few years," Eduardo Mello Franco, marketing manager for pricing at Brazilian mining company Vale told an industry conference in Singapore. "We see infrastructure for instance is still growing strongly in China," he said, adding that manufacturing is also "performing pretty well in China".
- CNW Group
Vale Base Metals Finalizes Plans to Reduce Equity Interest in PT Vale Indonesia Tbk
Vale Base Metals ("VBM") informs that Vale Canada Limited ("VCL") signed a Definitive Agreement ("Agreement") with PT Mineral Industri Indonesia ("MIND ID") and Sumitomo Metal Mining Co., Ltd. ("SMM") regarding the divestment obligation of PT Vale Indonesia Tbk ("PT Vale"). Under the Agreement, VCL and SMM will divest approximately 14 per cent pro-rata combined equity interest in PT Vale to MIND ID.
- Reuters
UPDATE 1-Brazil says talks on compensation over Vale-BHP dam burst are halted
Brazilian authorities said on Wednesday that talks with miners Vale, BHP and their joint venture Samarco regarding additional compensation for a burst tailings dam in 2015 were halted since the firms did not present a new proposal. The dam collapse in the southeastern city of Mariana caused a giant mudslide that killed 19 people and severely polluted the Rio Doce, compromising the waterway to its outlet in the Atlantic Ocean. The companies' latest offer presented had "insufficient amounts for the proper reparation of the Rio Doce," the statement said.
