In a landmark agreement, BHP, Vale, and their joint venture Samarco have reached a $32 billion settlement with Brazilian authorities to address the devastating impacts of the 2015 Fundão tailings dam collapse in Mariana, Brazil. This settlement covers compensation for environmental damage, public health crises, economic disruption, and property loss. The Fundão dam disaster, which […]
Vale has announced a landmark agreement with Anglo American to acquire a 15% ownership stake in Anglo American Minério de Ferro Brasil, marking a strategic partnership that encompasses the renowned Minas-Rio complex and Vale’s Serra da Serpentina resources in Brazil. This significant move, valued at US$ 157.5 million, includes a supplemental cash disbursement by Vale […]
Vale, a global leader in the metals industry, has entered into a binding agreement with Manara Minerals, a joint venture between Ma’aden and Saudi Arabia’s Public Investment Fund. Simultaneously, investment firm Engine No. 1 has agreed to invest under identical terms in Vale Base Metals Limited (VBM), the holding entity for Vale’s energy transition metals […]
Brazilian mining company Vale has commissioned the $485 million Gelado Project in Carajás, Pará, with an aim to provide a sustainable destination for tailings. The commissioning phase will carry out the performance and capacity tests with loading till the end of the first half of the year when the operation will start on a regular […]
Brazilian mining company Vale said that its subsidiary Vale Canada and Sumitomo Metal Mining have agreed to sell a 20% stake of Indonesian copper ores company Vale Indonesia to Indonesia Asahan Aluminium (Persero) (Inalum) for a sum of IDR5.52bn ($371m). Vale is selling a stake of 14.9% for about $290 million, while the Japan-based Sumitomo […]
Brazilian mining company Vale has agreed to sell the 25% stake it holds in Chinese coal miner Henan Longyu Energy Resources to Yongmei Group for CNY1.065 billion (approximately $152 million) as per the latest mining acquisition news. Henan Longyu Energy Resources has operations in two coal mines located in the Henan province. The two Chinese […]
Chemical industry news : Norwegian chemical company Yara has agreed to acquire a fertilzer complex in Cubatao from mining company Vale for an enterprise value of $255 million to establish as a nitrogen producer in Brazil. The transaction is expected to boost the production footprint of Yara besides complementing its existing distribution position. For Vale, […]