Mineradora Vale vai investir 5 bilhões de dólares por ano em 2020 e 2021

Vale Mining Company to Invest 5 Billion Dollars Per Year in 2020 and 2021

Written by Flavia Marinho

Published on 12/05/2020 at 17:18

Mineradora Vale vai investir 5 bilhões de dólares por ano em 2020 e 2021

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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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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.

Vale Mining Company to Invest 5 Billion Dollars Per Year in 2020 and 2021

According to mining company Vale, the current investment, which includes replacement contributions, will be US$ 4.1 billion in both years

Read Also

Vale Cancelled Chartering of 25 VLOCs Due to Numerous Technical Failures of the Ships

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Vale Mining Company to Invest 5 Billion Dollars Per Year in 2020 and 2021

According to mining company Vale, the current investment, which includes replacement contributions, will be US$ 4.1 billion in both years

Read Also

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With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

China is building 5 cascade dams for $167 billion in Tibet — and the Motuo Project will have 70 GW of capacity, three times more than the world’s current largest power plant.

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