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Vale Mining Exceeds US$ 100 Billion in Market Value Leaving Brazilian Giants Petrobras and Ambev Behind
Vale, one of the largest global producers of iron ore, surpasses the Brazilian oil company Petrobras and Ambev – the world’s largest beverage manufacturer, exceeding the mark of US$ 100 billion in market value, solidifying its position as the most valuable company in Latin America.
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According to a survey conducted by the consulting firm Economática, Vale Mining closed the trading session valued at US$ 103.8 billion last Tuesday, the 27th, being more than US$ 20 billion ahead of the Argentine e-commerce giant Mercado Livre, the second place.
According to Economática, since surpassing the Argentine company, the Brazilian miner has not stopped gaining positions in relation to its competitors in Latin America, which are Mercado Livre, valued at US$ 80 billion, and in third place, the American retailer Wal-Mart, valued at US$ 56 billion.
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Brazil Leads with Five Companies in the Ranking of Latin America
Completing the national participation in this ranking are Petrobras (US$ 56.9 billion), Itaú Unibanco (US$ 45.9 billion), Ambev (US$ 44.2 billion), and Bradesco (US$ 39.1 billion), all traditional market companies.
Weg Industry appears in 13th place, with US$ 28.7 billion, and the retailer Magazine Luiza in 15th place, with US$ 25.7 billion, representing emerging companies that have seen significant appreciation on the stock market in recent years.
After Brazil, Mexico is the second country with the most companies on the list of the most valuable in Latin America (with 2 companies), followed by Argentina and Bermuda, each with 1.
Vale Mining Tries to Recover Its Image
The company’s recovery came after a setback suffered two years ago, with the Brumadinho tragedy in Minas Gerais, which caused enormous environmental impacts and resulted in 270 deaths, most of whom were company workers.
The company reached billion-dollar agreements due to the incident and also faced a crisis of image and safety related to its dams.
Last year, however, driven by the rise in iron ore prices and better sales volumes, the company managed to reverse a loss of US$ 1.683 billion in 2019, delivering a net profit of US$ 4.881 billion. It was a year in which the company, in the words of its president Eduardo Bartolomeo, became a more reliable operator and proved to be better prepared to face 2021.
This year, already with the agreement from Brumadinho closed, the company has been able to increase its earnings. The settlement agreement, of R$ 37.68 billion, was well above the initial proposal made by the miner, which was R$ 29 billion, and closer to the R$ 40 billion demanded by the State and authorities such as the Public Ministry and the Attorney General’s Office.
The term did not remove any responsibility from the company. Furthermore, the document imposed new obligations and served as an acknowledgment of the miner’s responsibility for the incident. Individual actions for compensation and criminal cases are still underway, but the financial market sees the issue as resolved.
Job Openings at Vale
Take advantage of the moment of Vale Mining and send your resume directly on the company’s website. There are job openings, opportunities for recent graduates, apprentices, internships for various positions and Brazilian states.
Vale Reports Net Income of US$ 5.546 Billion in the First Quarter of 2021
On this past Monday, the company reported that it recorded a net income of US$ 5.546 billion in the first quarter of 2021, a high of 2,220% compared to the gain of US$ 239 million obtained in the same period last year.
The result also grew significantly compared to the previous quarter, when the company recorded earnings of US$ 739 million. The results came in line with the already high expectations of market analysts.
As one of the largest global producers of iron ore, the company had an adjusted EBITDA of US$ 8.35 billion between January and March, compared to US$ 2.882 billion a year earlier.
Ranking of Multinational Companies with the Highest Market Value in Latin America
- Vale (Brazil) – US$ 103.8 billion
- Mercado Livre (Argentina) – US$ 80 billion
- Wal-Mart Mexico (Mexico) – US$ 56.9 billion
- Petrobras (Brazil) – US$ 54.9 billion
- America Movil (Mexico) – US$ 48.6 billion
- Itaú Unibanco (Brazil) – US$ 46 billion
- Ambev (Brazil) – US$ 44.2 billion
- Grupo México (Mexico) – US$ 39.2 billion
- Bradesco (Brazil) – US$ 39.1 billion
- Marvell Technology (Bermuda) – US$ 31 billion
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