Global Markets: Investors spooked by Brazilian Vale’s surprise CEO shake-up

Global Markets: Investors spooked by Brazilian Vale’s surprise CEO shake-up

Investors were skeptical on Sunday about the surprise decision by Brazil’s Vale SA to remove its high-profile chief executive in the wake of a deadly January accident at one of the world’s largest iron ore miner’s facilities. Advertisements

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Mining vs Safety: Vale’s CEO, other execs, to step down after Brazil dam burst

Mining vs Safety: Vale’s CEO, other execs, to step down after Brazil dam burst

Brazilian iron ore miner Vale SA Chief Executive Fabio Schvartsman and several other senior executives resigned on Saturday in what the company described as a temporary move, after one of its mining dams burst in January, killing hundreds.

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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.

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Mozambique Mining: Vale intends to significantly increase its Moatize mine coal production

Mozambique Mining: Vale intends to significantly increase its Moatize mine coal production

Vale Mozambique, the Vale group of Brazil’s subsidiary in the African country, has told the Mozambique media that it plans to produce 20-million tons a year (Mt/y) of coal by 2021. The information was released in Maputo by Vale Mozambique financial director Marcelo Tertuliano.

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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 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 keeps Moatize coal output up

Brazilian mining major Vale has reported significantly higher production at its Moatize coal operation during the second quarter of this year (2Q18), compared with the first quarter (1Q18). However, 2Q18 production was still lower than production for the same quarter last year (2Q17). The figures were published in the group’s report, ‘Vale’s Production and Sales in 2Q18’.

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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 purchases in Mozambique approaching $1-billion

Brazilian mining group Vale has created a significant local supply chain in Mozambique to support its Moatize coal operation in Tete province. This was highlighted recently by the president of Mozambique’s Confederation of Economic Associations (Confederação das Associações Económicos – CTA), Agostinho Vuma, in an interview with local journal O País Económico.

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