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Vale S.A. (VALE)

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  • Feb. 6, 2013, 5:38 AM
    Vale (VALE) intends spend $7B on developing mines in seven African countries over the coming year, including investments in coal in Mozambique, iron ore and bauxite in Guinea, and copper in Zambia, the Democratic Republic of Congo and Angola.
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  • Feb. 5, 2013, 5:52 PM
    Silver Wheaton’s (SLW) $1.9B purchase of Vale (VALE) gold streams should hike revenues generated from gold production from an average of 12% to a peak of ~25% in the next five years. The move is expected to immediately boost SLW’s production and cash flow profile by adding expected average gold production of 110K oz./year over the next 20 years, or ~$3.7B at prevailing gold prices, Jon Ogg calculates.
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  • Feb. 5, 2013, 5:27 PM
    Silver Wheaton (SLW) agrees to acquire from Vale (VALE) an amount of gold equal to 25% of the life of mine gold production from its Salobo Mine in Brazil, and 70% of the gold production for a 20-year term from some of its Sudbury Mines in Canada. SLW will pay $1.9B in cash, 10M warrants and ongoing payments of the lesser of $400 or the prevailing market price for each ounce of gold delivered under the agreement.
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  • Feb. 4, 2013, 11:41 AM
    Vale (VALE -2.1%) remains the world's top iron ore producer, but it's losing ground to Rio Tinto (RIO -2.2%) as its output growth stalls because of aging mines and licensing delays. Producers in Australia, where the bulk of Rio’s iron ore operations are, will be responsible for nearly all of this year's 6% global supply growth while Vale will be little changed, BB&T Capital says.
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  • Feb. 1, 2013, 11:29 AM
    Vale (VALE +1.1%) posts better-than-expected Q4 iron ore output, rising 3.1% to 85.5M metric tons from 82.9M in the year-ago period, beating production gains reported earlier by Australian rivals BHP and RIO. Vale says the increase reflects below normal rainfall in Brazil and better productivity at its Carajas iron ore complex. The higher output allowed Vale to benefit from a rally in iron ore prices.
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  • Jan. 30, 2013, 3:15 PM
    Big miners such as Vale, Rio Tinto and Anglo American have written down nearly $50B in impairment charges in the past year, and more is expected this earnings season as expensive takeovers are reassessed. BHP may trim aluminum operation valuations, and Glencore may write down some assets acquired from Xstrata. In the mining world, bigger is better: big risks, big rewards and big egos.
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  • 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.”
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  • 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.
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  • 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.
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  • 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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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