Vale Int Share Discussion Threads

[la forge] 30/7/2023 10:38

Upcoming events on Vale S.A.


2023-10-25 Q3 2023 Earnings Release

[la forge] 30/7/2023 10:35

surprised, as thought the sales news would have prompted a positive movement up

Bolsa de Valores de Sao Paulo - 04:07:41 2023-07-28 pm EDT


67.63 BRL -3.96%

[the grumpy old men] 30/7/2023 10:29

Saudi Arabia's Ma'aden to acquire 10% of Brazil base metals firm - statement

[grupo guitarlumber] 17/4/2023 14:11

MINING.COM


Teck attracts bids from Vale, Anglo American and Freeport


Cecilia Jamasmie | April 17, 2023 | 4:49 am


Teck Resources (TSX: TECK.A, TECK.B)(NYSE: TECK) is said to have been approached by Vale (NYSE: VALE), Anglo American (LON: AAL) and Freeport-McMoRan (NYSE: FCX) on potential deals for the Canadian miner’s base metals business if shareholder approve a planned split.

The three global miners are among at least six companies that have expressed interests in transactions with Teck post-split, local paper The Globe and Mail reported on Sunday, citing sources close to the matter.


The Vancouver-based company, which is Canada’s largest diversified miner, proposed in February spinning off its steelmaking coal business to focus on base metals, particularly copper and zinc.


Swiss commodity trader and mining company Glencore Plc (LON: GLEN) launched a hostile $23.1 billion takeover of Teck, which has been sweetened since then to entice Teck’s shareholders initially opposed to the idea of being exposed to a larger coal portfolio.

The revised proposal gives Teck’s shareholders who do not want to own shares in the combined coal operation the option to receive cash plus 24% of the combined metals-focused business.

On Sunday, former chairman Norman Keevil, whose family controls Teck through its ownership of the majority of the company’s ‘A’ class of shares, reiterated his arguments against the takeover.


“As there has been much media commentary regarding my views on the future of Teck, I would like to provide a clear statement of my perspective,” he said.

“My colleagues and I are proud of what we achieved through 30 years of building Teck, growing the company 500-fold from a $25 million market cap to $12.6 billion, with double-digit compounded growth in shareholder value, and continuing growth in recent years to $25 billion today,” he added.

Keevil clarify he would support a transaction — be an operating partnership, merger, acquisition, or sale – with the “right partner”, on the “right terms” for Teck Metals after separation.

Teck’s chairman emeritus added that Glencore’s proposal was “the wrong one, as well as at the wrong time” and the split should go ahead.

With just over a week left on the clock for Teck’s shareholders to vote on the split, Glencore is trying its best to persuade the Canadian miner’s shareholders. Last week, chief executive Gary Nagle landed in Toronto to personally explain his company’s vision and intentions.

By Friday evening, two influential shareholder advisory firms had recommended against Teck’s strategy, while its largest investor, China Investment Corp., said it favoured Glencore’s proposal.


The shiny orange metal

Experts had anticipated that the company’s decision to split the business in two would make Teck Metals a takeover target. The company owns four copper mines in South America and Canada, which produced 270,000 tonnes combined last year.

Teck also expects to double copper output after the second phase of its Quebrada Blanca (QB) project in Chile ramps up to full capacity by the end of 2023.

Glencore believes that operating Quebrada Blanca jointly with the nearby Collahuasi mine, in which the Swiss multinational holds a 44% stake, would add at least a $1 billion of value to its coffers.

The idea, Glencore has explained, is that QB and Collahuasi share infrastructure rather than creating a single operation. The latter would require approval from Anglo American (LON: AAL), which has 44% of Collahuasi and Sumitomo, which holds a 30% indirect interest in the Chilean copper mine.

Top miners, in turn, are hungry for copper assets as demand for the metal accelerates and a global shortfall looms. BHP, Rio Tinto and Glencore itself have disclosed that they are actively looking to grow their copper exposure.

[la forge] 02/4/2023 07:38

Latest Dividends

Summary Previous dividend Next dividend

Status Paid Forecast

Type Final Interim

Per share 34.7c Sign Up Required

Declaration date 16 Feb 2023 (Thu) –

Ex-div date 14 Mar 2023 (Tue) 19 Sep 2023 (Tue)

Pay date 29 Mar 2023 (Wed) 04 Oct 2023 (Wed)

[waldron] 14/12/2022 16:07

Ian Lyall

15:00 Wed 14 Dec 2022





US bank Jefferies has released a research note stating that its analysts have been positive on iron ore for the past six weeks, due to the potential for a China reopening and seasonal supply issues.

The rally in iron ore prices has occurred, up from $76 per tonne on October 31 to $112/t last week. However, the outperformance of iron ore relative to copper has likely played out, the bank's analysts think

Despite this, the Jefferies' analysts still see good value in shares of Rio Tinto PLC (LSE:RIO), BHP Group Ltd (LSE:BHP, ASX:BHP) and Vale SA.


Policies 'more accommodative'

They attribute the rally in iron ore prices to an improving outlook for the Chinese economy and believe that more accommodative policies with respect to Covid and the property market will lead to stability in demand for iron ore.

However, the Jefferies analysts do not expect a strong recovery in demand as Chinese property, which accounts for around 35% of iron ore demand in the seaborne market, is likely in structural decline.

Overall, Chinese steel production should track demand, and they expect only a small increase, if any, in China's steel production over the next year.

Iron ore supply is also expected to be roughly flat year-on-year, as the major miners are not increasing production significantly, investors were told.

The Jefferies' analysts expect a balanced market with prices in the $90-110 per tonne range for 2023. The consensus view is that iron ore prices will normalize to the $70-80 per tonne range, and this will happen soon.

However, the analysts expect periods when the price will be in this range, but it believes that a value-over-volumes approach for the major miners and a steepening cost curve will lead to a long-term average price of at least $90 per tonne.

In contrast, they believe that the period of relative outperformance of iron ore in mining is over and that copper is a better commodity to invest in for a ‘12+ month horizon’.

Proactive

[podgyted] 07/12/2022 19:02

Vale down close to 4% in US.

[la forge] 19/11/2022 08:44

Upcoming events on VALE S.A.

feb/23/23   FY 2022 Earnings Release (Projected)

april/26/23   Q1 2023 Earnings Release (Projected)

[florenceorbis] 19/11/2022 08:13

Vale signs supply deal with GM for battery-grade nickel sulphate



By NS Energy Staff Writer  18 Nov 2022

Vale will supply battery-grade nickel sulphate from its proposed plant at Bécancour, Québec, Canada, containing the equivalent of 25,000 metric tons of nickel per annum, which will be used to power GM’s portfolio of electric vehicles
electric-car-g4a2e7da50_640

Vale signs supply agreement with GM. (Credit: A. Krebs from Pixabay)

Brazilian mining company Vale, through its subsidiary Vale Canada, has agreed to supply US-based automotive manufacturer General Motors (GM) with battery-grade nickel sulphate.

Under the terms of the agreement, Vale will supply battery-grade nickel sulphate, containing the equivalent of 25,000 metric tons of nickel per annum, starting from the second half of 2026.

Nickel sulphate is a chemical compound that is used in the production of pre-cathode active materials for nickel-based lithium-ion batteries.

GM will use the nickel sulphate, supplied from Vale’s proposed plant at Bécancour, Québec, Canada, for making Ultium battery cathodes, to power a portfolio of its electric vehicles.

The portfolio includes Chevrolet Silverado EV, Blazer EV and Equinox EV, the Cadillac LYRIQ, the GMC Sierra EV, and the GMC HUMMER EV Pickup and SUV.

The contained nickel in the delivery will be adequate for making around 350,000 EVs a year and will support GM’s EV production needs in North America.

Vale base metals executive vice president Deshnee Naidoo said: “This is a momentous agreement for Vale Base Metals that brings a key partner in GM into this first-of-its-kind facility for Canada and North America.

“The proposed nickel sulphate project would utilise high purity, low-carbon nickel from our Canadian refineries and is a natural extension for the business, offering diversified sales and a fast entry and anchor point into the North American electric vehicle market.

“We look forward to continuing engagements with the governments of Canada and Quebec on this strategic critical mineral project.”

Earlier this year, Vale announced the completion of pre-feasibility studies for the proposed nickel sulphate plant.

Also, Vale and GM have teamed up to jointly study the potential for advancing technology development and commercialisation to harvest recycled metals.

Vale said that the initiative strengthens its position as a supplier in the EV industry, leveraging its low-carbon footprint.

Canada Minister of Innovation, Science and Industry François-Philippe Champagne said: “This announcement between Vale and GM builds on Canada’s world-leading EV battery industry.

“It’s become even more clear that Canada can be the supplier of choice for the electric cars of the future.

“By leveraging Canadian critical minerals, we will see more jobs for Canadians, a growing economy and a greener and cleaner future for everyone.”

[the grumpy old men] 16/10/2022 10:43

Vale Canada opens phase I of $684m Copper Cliff Complex South Mine Project


By NS Energy Staff Writer 14 Oct 2022

The initial phase of the project is anticipated to nearly double ore production at Copper Cliff Mine, adding about 10,000 tonnes of contained nickel per annum and 13,000 tonnes of copper per annum


Vale Canada has inaugurated the first phase of its C$945m ($684m) Copper Cliff Complex South Mine Project in Sudbury, Canada.

The company said more than 12km of tunnels were developed to combine the south and north shafts of Copper Cliff Mine, creating a new Copper Cliff Mine Complex.

The project employed 270 people and spanned more than five million people hours moving over 600,000 tonnes of rock.

Vale’s Base Metals business executive vice-president Deshnee Naidoo said: “This first phase of the Copper Cliff Mine Complex South Project enhances our supply of low-carbon nickel and other critical minerals and adds to the long-term sustainability of our Sudbury operations.

“The successful delivery of this project is a major accomplishment for Vale and great news for Sudbury and the Province of Ontario.”

The project involved the refurbishment of the south shaft, an expansion for underground ore and waste handling systems, surface loadout and facilities and the construction of new ventilation systems.

Ontario Premier Doug Ford said: “Today’s announcement demonstrates our government’s commitment to safely extracting the province’s critical minerals and strengthening our homegrown supply chains.

“This mine will create hundreds of new jobs for our skilled workers and be a major boost for the economy of this region.

“We are thrilled that Vale is deepening its commitment to Ontario and can assure them that there is no better place for investment than right here in Sudbury.”

The first phase is anticipated to nearly double ore production at Copper Cliff Mine, adding about 10,000 tonnes of contained nickel per annum and 13,000 tonnes of copper per annum.

Ontario Minister of Mines George Pirie said: “Vale is investing $945 million in this expansion project that will increase Ontario’s supply of low-carbon critical minerals and provide jobs for over 250 people.

“This is great news for the entire region and another example of how Ontario is a leader in developing the critical minerals we need for innovative technologies like electric vehicles. Our government knows the sector’s best days are ahead and we will continue our strong support for the industry.”

Currently, feasibility studies are in progress for future development phases of the Copper Cliff Mine Complex.

[la forge] 31/8/2022 07:48

Upcoming events on VALE S.A.

October/27/2022 Q3 2022 Earnings Release

October/28/2022 Q3 2022 Earnings Call

[ariane] 07/6/2022 16:49

Jefferies gives bullish forecast for mining but warns the sector is not without risks

The broker says "buy the miners to ride out the storm" and maximise leverage from a recovery
Anglo American PLC - Jefferies gives bullish forecast for mining but warns the sector is not without risks

The mining sector is “undervalued” and “poised to outperform” as China recovers from its recent state of lockdown, broker Jefferies said in an analyst note today.

The investment bank has raised price forecasts for iron ore and coal and upgraded a swathe of mining companies from Hold to Buy.

Anglo American PLC (LSE:AAL), Rio Tinto PLC (LSE:RIO), BHP Group Limited (LSE:BHP) all got a bump-up.

Jefferies raised the target price on Anglo American to 4,500p, up from 3,850p.

BHP Group’s target price was also increased to 3,100p, up from 2,500p.

The price target for Glencore PLC (LSE:GLEN), which remains a Buy, was also raised, as was Rio Tinto.

Although recent demand from China has been weak due to the impact of its latest Covid-19 outbreak, the country is now relaxing lockdowns and rolling out monetary stimulus.

Jefferies anticipates that “mining shares will likely be volatile” as China comes out of hibernation, but that the environment should shift to a place of synchronised “recovery in global demand”.

While iron ore shipments fell in the first quarter of 2022, with little organic growth, an uptick in Chinese demand could lead to a further lift in prices, Jefferies said.

Copper mining production also dropped in the first quarter and total volumes are expected to be low for the rest of the year.

Its coal price forecast is based on a "lack of supply growth" as many companies are winding down coal activities.

Commodity prices, it expects, will be “rising to new highs”, although the pace of recovery could take a decade to be realised.

Jefferies said that supply constraints continue to hamper the mining industry and that capital expenditure in the industry has been at recessionary levels for the past six years.

However, the broker said it expects mining to “outperform as the US and Euro economies slow” amid high inflation and rising interest rates.

“Macro risks are still clearly elevated as an economic hurricane could be coming, but we would buy the miners to ride out the storm and maximize leverage to the subsequent recovery,” Jefferies said in the note.