Mineradora Vale exceeds the mark of US$ 100 billion in market value, leaving behind the Brazilian giants Petrobras and Ambev
The mining company Vale, one of the largest global producers of iron ore, displaces the Brazilian oil company Petrobras and Ambev – the largest beverage manufacturer in the world, and surpasses the mark of 100 billion dollars in market value, consolidating its position as a company most valuable in Latin America.
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According to a survey carried out by consultancy Economática, the mining company Vale closed the trading session worth US$ 103,8 billion last Tuesday, the 27th, with more than US$ 20 billion ahead of the Argentine e-commerce giant Mercado Livre, second place.
According to Economática, since it surpassed the Argentine company, the Brazilian mining company has not stopped gaining positions in relation to its competitors in Latin America, which are Mercado Livre, worth US$ 80 billion, and in third place the American retailer Wal-Mart, valued at $56 billion.
Brazil leads the Latin America ranking with five companies
The national participation in this ranking is completed by Petrobras (US$ 56,9 billion), Itaú Unibanco (US$ 45,9 billion), Ambev (US$ 44,2 billion) and Bradesco (US$ 39,1 billion) , all companies in the traditional market.
The 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 had strong appreciation on the stock exchange 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, with 1 each.
Minera Vale tries to recover its image
The company's recovery came after a blow suffered two years ago, with the tragedy of Brumadinho, in Minas Gerais, which caused enormous environmental impacts and resulted in 270 deaths, most of which were company workers.
The company closed multi-billion dollar deals as a result of the incident and also faced an image and safety crisis related to its dams.
Last year, however, driven by high iron ore prices and better sales volumes, the company managed to reverse the 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 was more prepared to face 2021.
This year, with the Brumadinho agreement closed, the company has managed to expand its gains. The conciliation agreement, worth BRL 37,68 billion, was well above the initial proposal made by the mining company, of BRL 29 billion, and closer to the BRL 40 billion demanded by the State and authorities such as the Public Ministry and the Public Defender's Office.
The term did not remove any liability from the company. In addition, the document imposed new obligations and served as an acknowledgment of the mining company's responsibility for what had happened. Individual lawsuits for damages and criminal lawsuits continue to be processed, but the financial market sees the issue as settled.
Vale job openings
Take advantage of the moment of the mining company Vale and upload your resume directly on the company website. There are job openings, opportunities for recent graduates, apprentices, internships for different positions and Brazilian states.
Vale records net income of US$ 5,546 billion in the first quarter of 2021
This past Monday, the company reported that it recorded a net profit of US$ 5,546 billion in the first quarter of 2021, an increase 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 were in line with the already high expectations of market analysts.
One of the largest iron ore producers in the world, the company had adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of US$ 8,35 billion between January and March, compared to US$ 2,882 billion a year earlier.
Ranking of multinationals with the highest market value in Latin America
- Vale (Brazil) – $103,8 billion
- Free Market (Argentina) – $80 billion
- Wal-Mart Mexico (Mexico) – $56,9 billion
- Petrobras (Brazil) – US$54,9 billion
- America Movil (Mexico) – $48,6 billion
- Itaú Unibanco (Brazil) – US$46 billion
- Ambev (Brazil) – US$44,2 billion
- Grupo México (Mexico) – $39,2 billion
- Bradesco (Brazil) – US$39,1 billion
- Marvell Technology (Bermuda) – $31 billion
