Vale SA (VALE3.SA)

VALE3.SA on Sao Paulo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Vale estimates $13 bln to $19 bln adjusted EBITDA in 2020
Thursday, 7 Dec 2017 


The Mosaic Company Q3 earnings per share $0.65
Tuesday, 31 Oct 2017 

Oct 31 (Reuters) - Mosaic Co ::The Mosaic Company reports third quarter 2017 results.Q3 earnings per share $0.65.Q3 sales $2.0 billion.Mosaic Co - ‍reduces annual dividend target to $0.10 per share​.Mosaic Co - ‍net sales in potash segment totaled $474 million for Q3, up from $428 million last year​.Mosaic Co - ‍net sales in phosphates segment were $779 million for Q3, down from $930 million last year​.Mosaic Co - ‍provided a strategic update identifying cumulative cash flow improvements in excess of $1 billion by end of 2020​.Mosaic Co - ‍Q3 average MOP selling price, fob plant, was $182 per tonne, up from $160 per tonne a year ago​.Mosaic Co - ‍potash segment's total sales volumes for Q3 were 2.2 million tonnes, flat with last year's levels​.Mosaic Co - ‍Q3 average DAP selling price, FOB plant, was $329 per tonne, compared to $326 per tonne a year ago​.Mosaic Co - ‍total sales volumes for phosphates segment are expected to range from 2.3 to 2.6 million tonnes for Q4 of 2017​.Mosaic Co - ‍Q3 earnings per share included a positive impact of $0.22 from notable items​.Mosaic Co qtrly ‍phosphates segment total sales volumes were 2.1 million tonnes, down from 2.5 million tonnes last year​.Mosaic Co - ‍mosaic's realized DAP price, FOB plant, is estimated to range from $320 to $350 per tonne for Q4 of 2017​.Mosaic Co - ‍has identified additional value creation opportunities ahead of pending acquisition of vale fertilizantes​.  Full Article

BHP Billiton updates on settlement agreements regarding Samarco dam failure
Tuesday, 31 Oct 2017 

Oct 31 (Reuters) - BHP Billiton Ltd :‍Entered into a preliminary agreement with federal prosecutors' office in Brazil in relation to Samarco dam failure​.‍Preliminary agreement suspends a BRL 1.2 billion injunction order under BRL 20 billion public civil claim​.‍12th court approved extension of date for negotiation of settlement arrangements.On 30 Oct court approved extension of date for negotiation of settlement arrangements and amendment to preliminary agreement​.‍Extension allows for continuation of interim security arrangements provided to court on 24 Jan 2017​.  Full Article

BHP Billiton updates on investigation findings into causes of failure at Samarco dam
Tuesday, 30 Aug 2016 

BHP Billiton Ltd : Samarco update . Panel of 4 geotechnical specialists published findings into causes of failure of FundãO tailings dam at iron ore operations of Samarco . Dean Dalla Valle, BHP Billiton's chief commercial officer, said the dam failure had a devastating impact . Vale, BHP Billiton brasil and Samarco jointly commissioned Cleary Gottlieb Steen & Hamilton LLP to investigate cause of failure . Separately undertaken a comprehensive review of significant dams, which has confirmed that those dams are stable . Says reviewing non-operated minerals joint ventures in its portfolio . Says will centralise management of all major non-operated minerals joint ventures in the minerals americas operating group . Says will establish a new BHP Billiton global standard for non-operated minerals joint ventures .Will apply the process for dam safety reviews developed by the Canadian Dam Association at all of its minerals assets.  Full Article

Teixeira Duarte units win 66.4 mln euro deal in Brazil
Thursday, 25 Aug 2016 

Teixeira Duarte SA : Said on Wednesday that its Brazilian units EMPA SA Servicos de Engenharia and Somafel Obras Ferroviarias e Matritimas Ltda had signed a contract with Vale SA to execute certain construction works along the railroad in Maranhao and Para states in Brazil . Contract is worth 239.6 million Brazilian reais ($74.3 million), which corresponds to 66.4 million euros .Works to be done in 759 days to count as of July 26.  Full Article

BHP Billiton updates on outlook
Tuesday, 16 Aug 2016 

BHP Billiton Ltd : "Expect findings of the external investigation into the cause of the dam failure to be released shortly" . "Near-term is difficult" . "On track to deliver US$2.2 billion of gains over two years to end FY 2017" .  Full Article

BHP Billiton says FY statutory attributable loss $6.39 bln
Tuesday, 16 Aug 2016 

BHP Billiton Ltd : BHP Billiton results for the year ended 30 June 2016 . There were no fatalities at our operated sites in the 2016 financial year. . FY statutory attributable loss $6.385 billion versus profit of $1.91 billion a year ago . Determined to pay final dividend of 14 US cents per share . Capital and exploration expenditure declined by 42% to US$6.4 billion and is expected to decrease further to US$5.0 billion in the 2017 financial year . On a cash basis, capital and exploration expenditure was US$7.7 billion and is forecast to decline to US$5.4 billion in the 2017 financial year. . FY revenue down 31% to $30.912 billion . "Net debt of US$26.1 billion broadly unchanged from December 2015." . "Over the medium term, China is expected to grow more slowly" . The adjusted effective tax rate is expected to be in the range of approximately 35 to 40 per cent for the 2017 financial year. . "Next year, we expect another US$1.8 billion of productivity gains" . Says Samarco has confirmed it is unlikely to have in place the necessary approvals to restart its operations in this calendar year . "Economic uncertainty and high inventory levels of crude oil are likely to keep prices volatile but range bound" . Forecast "delivering more than US$7 billion of free cash flow based on current spot prices and a forecast reduction in net debt" . "We are confident in the long-term outlook for our commodities, particularly oil and copper.".  Full Article

Vale says no cash for expansion, only dividends, debt cuts
Thursday, 28 Jul 2016 

Vale executives held a conference call with investors and analysts in English on Thursday to explain their second-quarter results. : Vale top iron ore executive Poppinga says capital spending to maintain existing mines near peak and likely to fall a bit . Vale Says That Its "Brazilian Iron Ore Blend" Received Regular Premium Of About $3 Above Benchmark Iron Ore Price In 2nd Qtr . Vale CEO Ferreira says company is 'very enthusiastic' about outcome of evolving asset-sale plans . Vale iron ore chief says realistic capacity of Carajas Railway is 175 million tonnes of iron ore a year from existing Carajas mines and new S11D mine . Vale says world iron ore supply is flat at about 50 days and balanced and can remain balanced through restocking . Vale says it expects 60 million tonnes of new sea-borne iron ore supply in 2017 compared with expected increase of 110 million tonnes in 2016 . Analysts are overestimating new mine ramp up and underestimating iron ore mine depletion . Vale iron ore chief Poppinga says supply demand outlook for iron ore will likely keep price above $50 a tonne for most of 2017 . Vale says it expects the equity portion of the partial divestment of Moatize coal project to close in fourth quarter . Moatize coal divestment money to flow direct to Vale, loans for future Nacala Corridor expansion will be non-recourse to Vale shareholders -CFO.  Full Article

Brazil's Vale says to provision of 3.7 bln reais for Samarco - filing
Thursday, 28 Jul 2016 

Brazilian iron ore miner Vale SA says on Wednesday it will make a 3.7 bln real provision in the second quarter for the Samarco tailings dam burst agreement : The provision will be used to support the foundation established in an accord with authorities to execute long-term programs for the remediation and compensation for environmental damage as a result of the dam burst disaster at Samara . Vale says it will give short-term credit of $100 million to support operations at Samara . Vale says expects to contribute $150 million to the foundation in the second half of 2016 Further company coverage: [nL1N1A60VX] (Reporting by Reese Ewing) ((reese.ewing@thomsonreuters.com;)).  Full Article

BHP Billiton to recognise provision in range of US$1.1 bln to US$1.3 bln
Thursday, 28 Jul 2016 

BHP Billiton Ltd: Bhp billiton ltd - update samarco . "Will recognise a provision in the range of US$1.1 billion to US$1.3 billion" . Further short-term facility of up to US$116 million is being made available to Samarco to carry out remediation and stabilisation work . Also approved US$134 million to support the foundation to allow the continuation of reparatory and compensatory programs . Associated income statement charge will be recognised as an exceptional item in June 2016 half-year, together with direct costs of about US$100 million (post tax) . Short-term facility will preserve the value of BHP billiton's investment .Foundation provided for under agreement has been established to deliver the socioeconomic and environmental programs outlined in agreement.  Full Article