Vale SA (VALE5.SA)
31 Jul 2015
R$ 0.24 (+1.67%)
|Market Cap(Mil.):||R$ 87,188.58|
NEW YORK, July 30 (IFR) - Brazilian credits enjoyed a rare day of stable price action on Thursday led by miner Vale, whose bonds were some 20bp narrower following the release of better-than-expected results.
* Vale iron ore chief says iron ore production for 2016 will be below previous guidance of 376 million tonnes
RIO DE JANEIRO, July 30 - Vale SA, the world's biggest iron ore producer, returned to profit in the second quarter, bolstered by higher output and cost cuts as it kept up pressure on Australian rivals in its fight for market share.
RIO DE JANEIRO, July 30 - Brazilian miner Vale SA said on Thursday that the collapse of a coal stacker at its port in Mozambique will not affect forecast coal production for next year.
RIO DE JANEIRO, July 30 - Brazilian miner Vale SA said on Thursday it is selling a 36.4 percent stake in Minerações Brasileiras Reunidas SA for 4 billion reais ($1.2 billion) to an investment vehicle managed by Bradesco BBI SA .
RIO DE JANEIRO, July 30 - Brazilian mining company Vale SA said on Thursday the start up of Cia Siderurgica do Pecem (CSP), a Brazilian steel mill being built with Korea's Posco and Dongkuk Steel Mill Co , will be delayed until the first half of 2016 from the second half of 2015 because of a strike.
RIO DE JANEIRO, July 30 - Brazilian mining company Vale SA said on Thursday that it expects to receive $448 million from the sale of four dry-bulk iron ore ships to China's state-owned China Merchants Energy Shipping Co in September.
RIO DE JANEIRO, July 30 - Brazilian miner Vale SA posted second-quarter net profit of $1.68 billion on Thursday bolstered by a recovery in iron ore prices during the period and the weakening real.
By Marta Nogueira and Stephen Eisenhammer RIO DE JANEIRO, July 29 - Brazilian miner Vale SA will likely announce its first profit in a year when it publishes second-quarter results on Thursday, bolstered by a recovery in iron ore prices during the period, a survey of analysts showed. Despite the expected turnaround after three straight quarterly losses, a poll of six analysts showed net profit for the world's largest producer of iron ore would still likely be 71 percent lower
MAPUTO, July 27 - A coal stacker has collapsed at the Mozambique port of Nacala, dealing a blow to Brazilian miner Vale's effort to start coal shipments from the African nation in the third quarter, sources told Reuters on Monday.
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