Latest news with #Vale
Business Recorder
5 days ago
- Business
- Business Recorder
Dalian iron ore drops on stronger supply
SINGAPORE: Dalian iron ore futures prices fell on Thursday, pressured by increasing supply from top miner Vale and higher steel inventories at Chinese mills. The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) traded 0.61% lower at 810.5 yuan ($113.34) a metric ton, as of 0341 GMT. The benchmark August iron ore on the Singapore Exchange was 0.39% higher at $104.85 a ton. Signs of stronger supply weakened iron ore prices on the Dalian exchange, ANZ analysts said in a note. Top Brazilian miner Vale reported higher second-quarter production, up 3.7% year-on-year, driven by record production at a key mine. The daily output of steel from key enterprises also increased by 2.1% month-on-month, while inventories climbed 3.9%, data from the China Iron and Steel Association showed. Adding to this, China's steel billet exports hit a record high from January to May at 4.72 million tons, nearly matching the full-year 2024 total, according to data from Chinese consultancy Mysteel. Still, sentiment has been broadly positive this week following the announcement that China will be proceeding with the construction of the world's largest hydropower dam, which has supported steel prices. The downturn in the real estate sector has not reversed, while the market is in a seasonal lull, brokerage Heuxn Futures said, but added that recent stimulus measures could keep steel prices firm in the short term. Other steelmaking ingredients on the DCE rose on Thursday, with coking coal and coke up 6.58% and 0.32%, respectively. China's move to curb coal overproduction in key producing hubs continue to fuel expectations of a deeper demand-supply imbalance, supporting market optimism, said Mysteel Global. Steel benchmarks on the Shanghai Futures Exchange all fell. Rebar and stainless steel dipped around 0.25%, hot-rolled coil eased 0.03%, and wire rod lost 2.41%.
CTV News
6 days ago
- Business
- CTV News
Ontario's Minister of Mines visits Sudbury
Mines Minister and Timmins MPP George Pirie was at Sudbury's Dynamic Earth on Monday. Ontario's Minister of Mines highlighted the Critical Mineral Innovation Fund during a tour of Sudbury on Monday. George Pirie spoke of the funding during a tour of Dynamic Earth, reaffirming the $15 million promised in the 2024 budget. 'We have everything the world needs in northern Ontario and this is our time to take advantage of a generational opportunity,' Pirie said. 'Sudbury, Timmins and Thunder Bay, and other regions in the north, all have a part to play in mining in Ontario.' The Critical Mineral Innovation Fund was first introduced in 2022 as part of the Critical Mineral Strategy to address supply chain challenges and strengthen the industry. Pirie also shone a spotlight on two local recipients of the fund: Vale and the Mining Innovation Rehabilitation and Applied Research (MIRARCO). Vale received $500,000 to work with MIRARCO to improve the mining giant's sustainability goals. Glen Watson, senior sustainability specialist with Vale, said the partnership provided the industry giant an excellent opportunity. 'The (fund) has allowed us to work with an excellent research facility right in our backyard and looking at waste materials as a resource instead of a liability,' Watson said. 'It has been really important in not only funding some fundamental and applied research, but also engaging in industry directly,' said Nadia Mykytczuk, CEO of MIRARCO. 'I think the biggest challenge in addressing critical minerals demand is putting pressure on the mining industry, and yet they're looking for new tools for other sources like waste, how do we go after something that had been sitting out for over 100 years and extract those critical minerals sustainably.' Pirie will also be speaking at the Federation of Northern Ontario Municipalities Conference.
Yahoo
7 days ago
- Business
- Yahoo
Vale logs growth in iron ore, copper and nickel output for Q2 2025
Brazilian miner Vale has reported an increase in iron ore production to 83.6 million tonnes (mt) in the second quarter of 2025 (Q2 2025), a 4% year-on-year (YoY) rise. This growth was primarily attributed to 'strong performance' at the Brucutu mine, following the commissioning of its fourth processing line, and a new quarterly output 'record' at the S11D mining project in northern Brazil. However, pellets production saw a 12% decrease to 7.9mt compared to the previous year, aligning with the revised 2025 production guidance amidst current market conditions. Iron ore sales also reported a 3% decline to 77.3mt, influenced by Vale's strategy to prioritise medium-grade products. In response to the market dynamics, Vale plans to undertake preventive maintenance at the São Luís pelletising plant earlier than scheduled, pausing production in Q3 2025. The pellet feed originally intended for pelletising will instead be redirected to iron ore fines sales, with the aim of optimising value in the product portfolio. The average realised price for iron ore fines dropped to $85.1 per tonne (t), a $5.7/t decrease from the previous quarter, mainly due to lower iron ore reference prices. Similarly, the average realised pellet price fell by $6.7/t to $134.1/t, reflecting the downward trend in iron ore prices. Despite these challenges, Vale anticipates production of 325–335mt of iron ore this year. Vale's copper production also posted an increase of nearly 18% to approximately 92,600t, the 'highest' Q2 output since 2019. This growth was attributed to higher grades at Brazil's Sossego mine, nominal capacity at the Salobo Complex and the ramp-up of the Voisey's Bay Mine Expansion project in Canada. Copper sales correspondingly rose by 17% to around 89,000t. Nickel production witnessed a 44% surge, reaching approximately 40,300t, driven by improved performance in Canadian assets and Onça Puma, along with lower planned maintenance activity. Nickel sales also increased by nearly 20.7% to around 41,400t, the 'highest' Q2 production since 2021. In a statement, the miner said: 'In iron ore, the combination of new assets ramping up and greater operational reliability is supporting stronger adherence to the 2025 production plan. Sustained operational improvements at both nickel and copper drove record Q2 output since 2021 and 2019, respectively, reinforcing the upward momentum.' Last month, Vale said it will stop using water in iron ore processing at its Carajas complex in northern Brazil by 2027. "Vale logs growth in iron ore, copper and nickel output for Q2 2025" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
CTV News
23-07-2025
- CTV News
Recent misgendering of a transgender worker draws criticisms, provides teachable moments
Recent misgendering of a transgender worker draws criticisms, provides teachable moments A previous story that misgendered a transgender miner sparked debate on inclusive language in the Greater Sudbury community and beyond. The United Steelworkers criticized the report, saying it fuels hostility with the company involved, Vale, saying it supports an inclusive workplace. Angela Gemmill has more on these teachable moments.
Yahoo
23-07-2025
- Business
- Yahoo
Vale's iron ore output up 4% with record Q2 at key mine
SAO PAULO (Reuters) -Brazilian miner Vale produced 83.6 million metric tons of iron ore in the second quarter, up 3.7% from a year earlier, the company reported on Tuesday. In its output and sales report, Vale said the increase was mainly driven by a new second-quarter record at the S11D mining project in northern Brazil, its top iron ore producer, and "strong performance" at its southeastern Brucutu mine. "In iron ore, the combination of new assets ramping up and greater operational reliability is supporting stronger adherence to the 2025 production plan," Vale said. The company, one of the largest iron ore producers in the world, expects to produce between 325 million and 335 million tons of iron ore this year. Citi analysts including Alexander Hacking said Vale posted a "solid quarter", noting the firm is "on track to meet (its) guidance". "We expect the stock to trade inline tomorrow," they added. Vale reported iron ore sales at 77.3 million tons in the quarter, down 3.1%, with the company's average realized price of iron ore fines landing at $85.1 per ton, a 13.3% fall. Vale said the sales were impacted by its portfolio optimization strategy to prioritize its medium-grade product offering, and also cited stock replenishment. BASE METALS Vale's copper production rose nearly 18% in the period to about 92,600 tons, it said, pointing to higher grades achieved at Brazil's Sossego plant, nominal capacity at its Salobo complex, also in Brazil, and the ramp-up of the Voisey's Bay project in Canada. Copper sales rose 17% to some 89,000 tons, Vale said. Meanwhile, nickel production increased some 44%, reaching about 40,300 tons, which Vale attributed to better performance of its Canadian assets and its Onca Puma mining project in Brazil, as well as "lower planned maintenance activity". Nickel sales rose nearly 21% to about 41,400 tons. Vale is set to release full second-quarter earnings on July 31.
