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Mining giant Vale revealed restructuring of copper and nickel operations in Brazil

Written by Roberta Souza
Published 30/09/2022 às 23:49
Mining
Photo: reproduction http://saladeimprensa.vale.com/

Vale's restructuring foresees the transfer of copper assets to Salobo Metais and the transfer of nickel assets to a new company

Vale declared that the company's Board of Directors approved the reorganization of base metals operations, such as copper and nickel, held by the mining company in Brazil.

Get to know Vale

Vale is a multinational mining company in Brazil and one of the largest logistics operators in the country. It is one of the largest companies in mining in the world, and is also the largest producer of iron ore, pellets and nickel. The company also produces manganese, ferroalloys, copper, bauxite, potassium, kaolin, alumina and aluminum.

Regarding the electric energy sector, the company participates in consortiums and currently operates nine hydroelectric power plants in Brazil, Canada and Indonesia. In 2008, according to the Financial Times, Vale became the 33rd largest in the world and the largest in Brazil in terms of export volume. In 2009, the company and the company's fantasy name ceased to be Companhia Vale do Rio Doce (CVRD) and became just Vale SA, a name that has always been known on the stock exchanges.

Vale was founded in 1942, during the Getúlio Vargas government, to explore iron mines in the Itabira region, in the state of Minas Gerais. The company is now a private, publicly traded company headquartered in Rio de Janeiro..

Check out how the restructuring of metals operations will take place

The approval of the restructuring provides for the transfer of copper assets to Salobo Metais and the transfer of nickel assets to a new company that will be formed by Vale in Brazil. The nickel and copper assets will continue to be consolidated and wholly owned by Vale.

Earnings on interest, taxes, depreciation and amortization (Ebitda) of Vale's Base Metals division was US$ 603 million in the second quarter of 2022, which is equivalent to 10,9% of the total Ebitda recorded in the same period.

According to a press release, the company's reorganization seeks to centralize metals Vale in Brazil in two companies, such as copper and nickel, bringing greater efficiency in processes and management.

The mining company Vale also clarifies that there is, at the moment, no determination about new transactions involving its Base Metals business.

Construction of Vale's dams

A mining company Vale also reported the conclusion of the de-characterization works of three more structures upstream: the Auxiliary Dike of Dam 5, at Águas Claras Mine, in Nova Lima (MG), Dike 3 of the Pontal System, at Cauê Mine and the Ipoema dam, at Mina do Meio, both in Itabira (MG).

In this way, the mining company Vale eliminated 40% of the structures provided for in the De-characterization Program. In total, Vale has eliminated 12 structures since 2019, with five in 2022.

Do you want to know more news about the mining company Vale? Check it out below!

Impressive autonomy! VALE is testing the world's first electric cargo trucks to transport ore

Vale's objective with the tests with electric trucks is to get ever closer to the zero carbon emission target established by the company.

Vale is testing the first all-electric trucks to transport heavy loads. The two examples will be used for internal transport in mines in both Brazil and Indonesia. The corporation made the announcement about the new resource in recent weeks, and according to the company, the main objective of this initiative is to get as close as possible to not emitting carbon dioxide into the atmosphere.

To check out the full article, just click here!

Roberta Souza

Petroleum Engineer, postgraduate in Commissioning of Industrial Units, specialist in Industrial Corrosion. Get in touch to suggest an agenda, advertise job vacancies or advertise on our portal. We do not receive resumes

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