Brazil

Global Oil & Gas: Oil Unchanged as Market Struggles for Direction

Posted on November 17, 2023November 17, 2023 by Mozambique Resources Post

Oil narrowly held onto a four-day winning streak as investors weighed a mixed supply-and-demand outlook. West Texas Intermediate settled unchanged near $78 a barrel, erasing an equities-led morning rally. The US benchmark has struggled for direction — crossing above its 200-day moving average just one week after breaching it on the way down. Prices earlier tested the 13-day moving average, another key resistance level, before retreating. While oil demand is healthy, according to the International…

Global Mining: Board of Vale gives CEO Schvartsman another term

Posted on December 31, 2018December 31, 2018 by Mozambique Resources Post

RIO DE JANEIRO/SAO PAULO – The board of Brazilian mining company Vale SA has approved an additional two-year term for Chief Executive Fabio Schvartsman, the company said on Friday, as it seeks to extend his successful tenure as head of the world’s largest iron ore exporter.

Africa Oil & Gas: Standard Bank urges Brazilian firms to tap Africa market

Posted on November 7, 2018 by Mozambique Resources Post

South Africa’s Standard Bank Group Ltd encouraged Brazilian engineering and construction firms on Tuesday to explore African opportunities, such as the world’s largest liquid natural gas projects in Mozambique.

Mozambique Oil & Gas: Brazil shares its oil and gas experience in Maputo

Posted on June 15, 2018June 15, 2018 by Mozambique Resources Post

Deputy Minister of Mineral Resources and Energy of Mozambique, Augusto de Sousa Fernando, said in Maputo that the best use of the investments that occur in the oil and gas sector in Mozambique is through the search for experiences from countries, such as Brazil, that operate in the sector for quite some time.

Mozambique Coal Logistics: Exports from to increase with inauguration of the Nacala coal terminal

Posted on May 12, 2017 by Mozambique Resources Post

The inauguration on Friday of the coal terminal at the port of Nacala-a-Velha and the railway line to transport ore mined at Moatize is expected to increase exports and even make coal the main product exported by Mozambique, the Economist Intelligence Unit (EIU) reported recently.

Global Mining: Brazil politics could keep Ferreira as Vale CEO for two more years

Posted on February 14, 2017 by Mozambique Resources Post

Vale’s (VALE +7.9%) top non-government shareholders want CEO Murilo Ferreira to stay in his job for another two years to stem pressure from Brazilian politicians to appoint an ally, Reuters reports, citing newspaper Valor Econômico.

Mozambique Mining & Logistics: Nacala Corridor comes for rescue as Vale halts coal deliveries through Sena railway

Posted on June 17, 2016 by Mozambique Resources Post

The Brazil-headquartered mining giant owns and operates the line which transports coal from its Moatize mine in the Tete province to Beira at the coast.

Global Mining: Vale says no plans to replace CEO

Posted on June 10, 2016 by Mozambique Resources Post

Vale said on wednesday, 07th June , there are no plans in the company to replace President Murilo Ferreira. As it has been noticed recently, the interim government of Michel Temer would be interested in changing the command of the Brazilian mining company due to the proximity of the executive with ousted former president Dilma Rousseff and former Finance Minister Guido Mantega. In clarifying the market, Vale said that possibility is not dealt within the company,…

Global Mining: Vale shareholders concerned about CEO change

Posted on June 8, 2016 by Mozambique Resources Post

Local media group Valor said the shareholders, which include Bradespar and Mitsui & Co are concerned the removal of Ferreira would be seen as political interference and may tarnish the company’s image.

Mining & Environment: BHP Billiton hits seven-year low in wake of Brazil disaster

Posted on November 10, 2015 by Mozambique Resources Post

Shares in BHP Billiton (ASX:BHP) fell sharply on Sydney Monday, touching a seven-year low, as the mining giant took an additional hit from the tailings dam disaster at the Samarco iron ore minein Brazil, which co-owns with Vale (NYSE:VALE).

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