Vale SA sets three-year outer target for restoring full iron output lost in Brazilian tailings dam collapse [Toronto Globe and Mail (Ontario, Canada)]
VALE S.A. American Depositary Shares Each Representing one common share (VALE)
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Source: Toronto Globe and Mail
Vale SA sets three-year outer target for restoring full iron output lost in Brazilian tailings dam collapse Brazilian miner Vale SA expects to restore capacity lost after the deadly Brumadinho tailings dam burst within two to three years, executives said on Friday, emphasizing that the company is not rushing to resume full output. The dam’s collapse, which came a little over three years after a similar accident at a Samarco joint venture with BHP Group in the same state, has led to months of turmoil at Vale, culminating in a US$1.64-billion quarterly loss reported on Thursday. The world’s largest iron ore miner has been forced to take some 9 million tonnes of production capacity offline since the disaster, some voluntarily but much under pressure from courts and regulators aiming to avoid another disaster. Story continues below advertisement “We’re not in a hurry,” chief financial officer Luciano Siani told analysts on a conference call. “We’re working together with prosecutors and th
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VALE
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- 7/28/23 - Miss
VALE
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- 3/26/24 - Form 6-K
- 3/20/24 - Form 6-K
- 3/20/24 - Form 6-K
- VALE's page on the SEC website