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Vale S.A. (VALE)

  • Jan. 29, 2013, 2:58 PM
    Vale (VALE +1.8%) sees good signs for the metals and mining industry in a nascent recovery in global industrial production. The mining giant's IR director tells analysts he doesn't see in 2013 "conditions for iron-ore prices to dive like they did last year," with most of the world's major economies expected to post somewhat better growth in coming quarters.
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  • Jan. 29, 2013, 8:15 AM
    Vale (VALE) sees continued weakness in overseas markets following news it reduced the planned minimum dividend payment by a third to $4B as the Brazilian iron ore producer cuts investments and sells assets amid reduced earnings.
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  • Jan. 24, 2013, 3:30 PM
    Vale (VALE -1%) tells Bloomberg it is maintaining the suspension on its $5.9B Rio Colorado potash project in Argentina. Vale said in October it had completed 41% of the project, when it cut its 2013 budget to $611M from $1.08B in 2012. The miner is holding talks with two multinational companies seeking to seal a partnership, according to local media.
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  • Jan. 24, 2013, 10:34 AM
    Commodity prices are rebounding, but don’t expect megadeals in mining as a new crop of CEOs takes over, WSJ reports. At least 20 mining CEOs have stepped down in the past year, some related to unsuccessful acquisitions, and big deals are unlikely when many CEOs are new to their roles. "There will be M&A but it is likely to be very strategic, brownfield-related and very carefully thought through.”
  • Jan. 23, 2013, 12:25 PM
    More Einhorn: A new bearish thesis, Greenlight has shorted a number of stocks in the iron ore sector, believing the billions miners have spent growing capacity is coming online as global demand growth for steel fades. The big late-year rally in iron ore prices - and stocks like RIO, BHP, VALE, CLF, to name a few - looks to have made a good entry point.
  • Jan. 17, 2013, 2:33 PM
    BHP bought 100K metric tons of iron ore on the spot market in a rare move traders see as a strategy by producers themselves to stem a decline in prices as Chinese demand wanes. The cargo is not for immediate delivery, adding weight to the argument that BHP wants to support prices, traders say, though some participants believe BHP’s move may be due to supply issues.
  • Jan. 16, 2013, 12:22 PM
    The recent selloff in Vale (VALE -2.2%) may provide a buying opportunity, Goldman Sachs says, pointing to rallying iron ore prices and the firm's expectations that global demand will keep prices high. Goldman also thinks investors have underestimated Vale’s ability to reduce expenses, which could let the miner increase its 2013 dividend.
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  • Jan. 15, 2013, 5:11 PM
    Deutsche Bank sees iron ore prices hitting $170/ton in coming weeks, thanks to continued restocking by Chinese steel mills in a tight market and the approaching wet season in Australia (the world’s biggest iron ore producer). But that’s as good as it gets, the firm says, as seasonality and weakness in other steelmaking ingredients sink prices back to the $120 price floor as the year progresses.
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  • Jan. 10, 2013, 4:36 PM
    Vale (VALE) CEO Murilo Ferreira says he expects a recovery in iron ore prices along with the economies of key Asian countries. He cautioned that prices would not reach the "exuberant levels" seen during 2008-10, but they should prove less volatile in 2013 than in 2012.
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  • Dec. 27, 2012, 8:07 AM
    Vale (VALE) says it may sell its stake in Brazilian logistics firm Log-In Logistica Intermodal, as it continues to sell off assets it doesn't consider part of its core iron ore business. Vale's 31% stake in the company could be worth as much as 217M reais ($106M). Vale also says it sold its 25% stake in a Brazilian oil and gas exploration partnership to Statoil (STO). VALE +1.6% premarket.
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  • Dec. 27, 2012, 7:31 AM
    A 56% Q4 rally in iron ore prices has some declaring China back and the bear market in the key mineral over. The price at China's Tianjin port has reached $135.40/ton, well more than double the average cost of production in Brazil (VALE) and Australia (BHP, RIO).
  • Dec. 24, 2012, 1:25 PM
    Mining companies plan to spend ~$24B during 2012-16 - including Vale's (VALE) $8B expansion of its Carajas mine - to boost production of iron ore, bauxite and other metals found in Brazil's Amazon rain forest. But environmental concerns aside, some investors bemoan the miners' bad timing, as prices of the metals have plunged from their heights on concerns about slowing growth in China.
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  • Dec. 20, 2012, 5:36 PM
    Vale (VALE) says it will take a $4.2B writedown on its nickel and aluminum investments, part of a series of charges that will hit the miner's Q4 earnings. Most of the charges are related to its troubled Onca Puma nickel mine in Brazil, which was shuttered in June. The total charge before taxes for Onca Puma will total $2.85B. VALE -2% AH.
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  • Dec. 20, 2012, 3:26 PM
    Vale (VALE +0.6%) is enjoying its biggest rally in more than a year - up 17% this month - on speculation rebounding commodities will boost profit and help it get a better deal for unwanted assets. Vale is retreating to its core iron ore business in a bid to halt six straight declines in quarterly profit, and a 56% surge in iron ore prices gives it some breathing room to shop non-core assets for the best price.
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  • Dec. 19, 2012, 10:09 AM
    Vale (VALE -1.2%) agrees to pay 212M Swiss francs ($232M) in taxes under dispute with the Swiss government. Vale had provisioned $37M for the potential tax charges, and will take a $195M charge in Q4 to settle the dispute.
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  • Dec. 19, 2012, 8:25 AM
    Petrobras (PBR) agrees to acquire a 100% stake in Brazil's Araucaria Nitrogenados from Vale (VALE) for $234M. Araucaria Nitrogenados has a fertilizer production plant with the capacity of 700K tons/year of urea, 475 tons/year of ammonia and 450K cubic meters/year of Arla 32. PBR +1.7%, VALE -1.1% premarket.
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Company Description
Vale SA is a metals & mining company. It produces & supplies iron ore, iron ore pellets, nickel, manganese ore, ferroalloys, copper, coal, phosphates, potash, cobalt & others.
Industry: Steel & Iron
Country: Brazil