17:57 PM
Brazil mining giant Vale (VALE) will reportedly boost investment by more than 30% to $12B next year. The company has faced harsh criticism from the government for not investing enough in Brazil. (source)
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Tuesday, October 13, 2009
12:10 PM
Vale (VALE -0.9%) may partner with Bolivia to develop the world's largest lithium deposit. The site holds half the world's 11M metric tons of lithium, which is critical to batteries powering consumer electronics and possibly electric cars.
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Monday, August 17, 2009
07:55 AM
The China Iron & Steel Association concludes talks with Fortescue (FSUMF.PK), winning a 35% reduction in iron ore prices. China plans to ask Vale (VALE), Rio Tinto (RTP) and BHP (BHP) for similar concessions, backing down from earlier demands for a 45% price cut.
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Thursday, July 16, 2009
12:48 PM
Mosaic (MOS) - No. 2 in fertilizer production in North America - is up 11.2% amid earlier reports that iron-ore leader Vale (VALE -1.8%) is preparing a $25B bid for the company. Mosaic, an attractive target because of its existing mines, was earlier a rumored target of BHP.
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10:25 AM
Brazilian miner Vale (VALE) and Chinese aluminum producer Chinalco (ACH) are each mulling bids for Anglo American (AAUK) and/or Xstrata (XSRAF.PK) after Anglo rebuffed Xstrata's merger approach earlier this week. With stakes so high, analysts say things could heat up in a hurry.
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09:55 AM
China says it has found Asia's largest iron ore deposit, which could produce 5M tons by 2015. China likely hopes the news will move the needle in its steelmakers' contentious negotiations with miners like Rio Tinto (RTP) and Vale (VALE), but strategists say such thinking is premature.
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Thursday, June 18, 2009
14:05 PM
Fitch predicts a prolonged stand-off between Chinese steelmakers and international producers. Vale (VALE +0.75%) and Rio Tinto (RTP -5.3%) reached deals with Japanese and Korean steelmakers at prices 28-33% below last year, but China's looking for something in the 45% range.
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