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According to mining company Vale, the current investment, which includes replacement contributions, will be US$ 4.1 billion in both years
Good news for the mining sector! Amid the pandemic, mining company Vale reported investments of US$ 5 billion in 2020 and 2021, and also wants to invest US$ 4.5 billion in the years ahead. Mining company Samarco receives approval from Ibama for operation license for three pipelines connecting MG to ES
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The good news came from a presentation by Vale released on Tuesday, May 12, where the mining company stated it is “on the right track to resume” its dividend policy.
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The largest tunnel module factory in the world was built from scratch on a beach in Denmark to produce 89 concrete blocks and will be demolished after the project: each structure weighs up to 10 times the Eiffel Tower and will be installed on the bottom of the Baltic Sea with an accuracy of 12 millimeters in a tunnel that will halve the travel time between Hamburg and Copenhagen.
Vale’s dividend policy has been suspended since the company’s dam collapse in Brumadinho (MG) last year that left hundreds dead.
Vale also stated that it has raised its ambition on climate change, now aiming for “a net-zero emissions company by 2050.”
The mining company announced a medium-term target to reduce 33 percent of its “scope 1 and 2” emissions by 2030, in addition to reporting investments of US$ 2 billion in renewable energy, without further details.
Vale Cancelled Chartering of 25 VLOCs Due to Numerous Technical Failures of the Ships
Following Vale’s new risk management approach, the mining company decided to eliminate or replace 25 ships converted from VLCCs to VLOCs from its fleet, the company reported in its quarterly report released on April 29.
The ships had numerous technical failures and will be gradually removed through early termination or modification of the charter contracts.
The decision was made after the last accident in February 2020 involving one of the converted ships – a vessel built in 2016 owned and operated by the South Korean company Polaris Shipping.
The Stellar Banner suffered damage and ran aground after leaving the maritime terminal of Ponta da Madeira, in the State of Maranhão, loaded with approximately 295 kt of iron ore produced by Vale.
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