Global Mining: Board of Vale gives CEO Schvartsman another term

Global Mining: Board of Vale gives CEO Schvartsman another term

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. Advertisements

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Mozambique Mining: After after talks with residents, Vale resumes Moatize coal mine operations

Mozambique Mining: After after talks with residents, Vale resumes Moatize coal mine operations

Mining company Vale-Mozambique announced on Thursday that it had resumed operations in a section of the company’s facility following a nearly two-week standstill demanded by residents complaining of pollution there, Noticias reports.

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Mozambique Mining: Vale Moçambique sells 600 coal tons per year to Cimentos de Maiaia

Mozambique Mining: Vale Moçambique sells 600 coal tons per year to Cimentos de Maiaia

Mozambican company Cimentos de Maiaia will buy 600 tons of thermal coal per year from Vale Moçambique, a subsidiary of Brazilian group Vale that mines coal deposits in Moatize, Tete province, the company’s chief executive said.

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Mozambique Mining: Vale remains committed to country, despite Moatize losses

Mozambique Mining: Vale remains committed to country, despite Moatize losses

Despite continuing to make a loss, coal miner Vale Moçambique will continue to make major investments in its assets in Mozambique. This assurance was given at a midmonth press conference in Maputo by the company’s board chairperson, Márcio Godoy.

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Mozambique Mining: Vale Moatize thermal coal sales suprise, coking disapoints

Mozambique Mining: Vale Moatize thermal coal sales suprise, coking disapoints

During the second quarter of this year (2Q18), Brazilian mining major Vale’s coal business achieved earnings before interest, taxes, depreciation and amortization (Ebitda) of $45-million. 

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Mozambique Mining: Vale reports another record coal production in Moatize mine

Vale Mocambique coal production totaled 2.9Mt in 2Q18, 18.1% higher than 1Q18 and 5.5% lower than 2Q17, as the adverse conditions in Tete, Moatize mine site in 1Q18 were only overcome during the first part of 2Q18, preventing a faster recovery in the quarter.

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Mozambique Mining: Vale Coal’s earnings keep improving

  Vale’s (VALE) coal EBITDA (earnings before interest, tax, depreciation, and amortization) has been declining due to lower realized prices and higher tariff costs in the NLC (Nacala Logistics Corridor). Most coal stocks have fallen year-to-date. 

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