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RIO DE JANEIRO, April 30 (Reuters) - Brazil's Vale SA said on Thursday it expects to replace some old higher-cost iron ore production as new capacity comes on stream, the clearest sign yet the miner could cut future output forecasts due to weak prices. The company has about 22 million tonnes of annual production that it considers to be marginal at the current price, Vale's Head of Ferrous Peter Poppinga said during a conference call to discuss first quarter results. Some of this could be stopped as new, cheaper tonnes come on stream from expansion projects, he added. (Reporting by Stephen Eisenhammer; Editing by Chris Reese)
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Vale
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EXPLORATION STAGE |
CODE : VALE3.SA |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Vale is a producing company based in Brazil. Its main exploration property is GALIURO in USA. Vale is listed in Brazil and in France. Its market capitalisation is BRL 326.9 billions as of today (US$ 150.8 billions, € 141.5 billions). Its stock quote reached its lowest recent point on February 19, 2016 at BRL 10.51, and its highest recent level on August 27, 2021 at BRL 99.80. Vale has 5 244 319 744 shares outstanding. |