|Bid||12.80 x 0|
|Ask||15.00 x 0|
|Day's range||13.49 - 13.49|
|52-week range||11.00 - 15.62|
|Beta (3Y monthly)||1.14|
|PE ratio (TTM)||20.82|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Brazil's Vale SA said on Wednesday that its iron ore production and sales slumped in the first quarter from a year earlier, reflecting the impact of the deadly collapse of a tailings dam at Brumadinho in late January. Iron ore output fell 11 percent to 72.87 million tonnes while sales of the commodity slid 22 percent in the three-month period to 55.416 million tons. The world's largest iron ore exporter shuttered various mines after the dam at Brumadinho collapsed, unleashing a torrent of toxic mud that buried nearby buildings, including a company cafeteria, killing 236 people, with 34 still missing.
China's iron ore imports in April fell to the lowest level in 18 months as poor weather in Brazil, the country's second-biggest supplier, disrupted shipments and some production by miner Vale SA was halted after a mine accident. Arrivals of iron ore, a key steelmaking raw material, were 80.77 million tonnes last month, the lowest since October 2017, data from the General Administration of Customs showed on Wednesday. For the first four months of 2019, China imported 340.21 million tonnes of iron ore, customs data showed, down 3.7 percent from 353.32 million tonnes in the same period last year.
Minority shareholders of Brazilian iron ore miner Vale SA have enough votes to request that board members be elected independently using a cumulative voting system and not in a single vote approving all names proposed by controlling shareholders, the company said in a filing. Broker Vic DTVM and fund Geracao Futuro Lpar proposed Patricia Bentes as an independent member, challenging a list of 13 candidates presented by the company's controlling shareholders. Vale said in the securities filing on Saturday the election of its board members may occur on Tuesday under the new cumulative voting system.
RIO DE JANEIRO/SAO PAULO (Reuters) - Brazilian miner Vale SA on Thursday estimated selling up to 75 million tonnes less iron ore and pellets this year, after several mines were halted following its second deadly dam burst in less than four years. The estimate, which is 20 percent below its prior forecast, is the latest blow to Vale from the collapse at Brumadinho, which killed some 300 people and forced the world's largest iron ore exporter to fire its chief executive officer earlier this month. Chief Financial Officer Luciano Siani said in a call with analysts that under the most optimistic scenario, 2019 sales would decline about 50 million tonnes.
The FTSE 100 was little changed by session end, lagging its peers on Wall Street and in Europe, while mid-caps gave up 0.3 percent. Miners lost 1.2 percent after Vale SA said it expected to resume operations at its Brucutu mine within 72 hours. London-listed shares in Rio Tinto fell 2.7 percent and BHP, the world's biggest miner, gave up 2.5 percent after cutting its iron ore output target following a tropical cyclone.
Britain's FTSE 100 was off its six-month high as a fall in miners over Vale's plans to reopen a major Brazilian mine offset gains in banks after upbeat data from China, while Bunzl sank on a slowdown in revenue growth. The FTSE 100 was little changed by session end, lagging its peers on Wall Street and in Europe, while mid-caps gave up 0.3 percent. Business supplies distributor Bunzl plunged 9.3 percent on its worst day in a decade after reporting a slowdown in quarterly growth due to sluggish performance of its grocery and retail business in North America, its biggest market.
The FTSE 100, which had climbed to its highest since early October the day before, was 0.3 percent lower by 0710 GMT. Sentiment was sour despite a rise in Asian shares after Chinese economic reports beat expectations, a sign that Beijing's stimulus may finally be paying off in the world's second-largest economy. London-listed shares in Rio Tinto fell nearly 3 percent and BHP Group, the world's biggest mining company, gave up 2.3 percent after cutting its target for iron ore output following a tropical cyclone.
Investigators have gathered enough evidence to affirm that Vale employees involved in the mine operation knew the dam was unsafe, the report said, quoting Jose Adercio Leite Sampaio, the prosecutor heading the probe. "At this point, we know that the operational side knew [that the dam was at risk of collapse], but did Vale's directors know?" Sampaio said in an interview with the Journal. Vale continues cooperating fully with the authorities to ascertain the facts related to the dam breach," Vale said in response to a Reuters query.
Brazilian miner Vale SA said on Monday it failed to obtain stability certificates for 13 dams under review following the rupture of another dam in January that killed hundreds, although its shares rose on strong global iron ore prices. The world's largest iron ore miner also disclosed in a securities filing on Monday that a court had frozen an additional 1 billion reais ($258.42 million) in assets over potential damages related to the evacuation of its Vargem Grande dam. Iron ore futures contracts for May delivery rose as much as 5.2 percent on Dalian Commodity Exchange to hit a seven-week high on Monday, on strong economic data from China and supply concerns after Rio Tinto cut its 2019 forecast for iron ore shipments.
Brazilian miner Vale SA's sales of iron ore could be reduced by as much as 75 million tonnes this year as a result of the deadly dam collapse in the town of Brumadinho two months ago, its chief financial officer said on Thursday. Luciano Siani said in a call to analysts and investors that under the most optimistic scenario, the loss of sales would be around 50 million tonnes. While representing a substantial decrease from the company's 382 million tonne sales forecast for this year, also disclosed on Thursday, the worst-case sales outlook would still leave 2019 sales at 307 million tonnes.
Vale SA, the world's largest iron ore miner, is set to report fourth-quarter earnings on Wednesday but those results now look like ancient history as the company grapples with fallout from a second deadly dam burst in less than four years. The collapse of the tailings dam at Brumadinho, which killed an estimated 300 people two months ago, is expected to dominate the discussion when Vale executives take questions from analysts on Thursday. "The market's main focus when looking at the quarterly numbers will be any update on the current situation - anything on production, any clarification about the suspended mines and dams as well as anything about movement toward negotiating a global settlement," said Karel Luketic, head of equity research at brokerage XP.
** Shares of British miners slip after Brazilian court clears way for world's largest iron ore miner Vale SA to resume ops at its largest iron ore complex ** BHP down 2 pct, Anglo American down 1.8 pct ...
SAO PAULO (Reuters) - Brazilian prosecutors requested that mining company Vale SA be ordered to guarantee funds of 50 billion reais (9.87 billion pounds) for environmental recovery efforts after a January ...