Edition:
United Kingdom

Christian Plumb

Vale CFO says hopes to restore lost output within two to three years

10 May 2019

RIO DE JANEIRO/SANTIAGO Brazilian miner Vale SA expects to restore capacity lost after the deadly Brumadinho tailings dam burst within two to three years, executives said on Friday, emphasizing that the company is not rushing to resume full output.

Brazil's Vale swings to loss as dam burst charges near $5 bln

10 May 2019

SANTIAGO/RIO DE JANEIRO Brazil's Vale SA set aside $4.95 billion to pay for costs from the collapse of its Brumadinho tailings dam, driving the world's top iron ore miner deep into the red as it reckoned with the aftermath of one of the country's deadliest industrial disasters.

Brazil's Vale announces writedowns, profit after dam disaster

28 Mar 2019

SAO PAULO Brazilian iron ore miner Vale on Wednesday announced a series of writedowns and provisions related to the Brumadinho tailings dam collapse that killed some 300 people two months ago, saying there would be an affect on future results.

Vale investors seek clarity two months after Brazil dam burst

26 Mar 2019

SAO PAULO Vale SA, the world's largest iron ore miner, is set to report fourth-quarter earnings on Wednesday but those results now look like ancient history as the company grapples with fallout from a second deadly dam burst in less than four years.

Brazilian graft probe puts Swedish firm AF under microscope

22 Mar 2019

SAO PAULO The arrest of a former Brazilian president on corruption charges is raising questions about how a Swedish consulting company won a contract to help build a nuclear power plant at the center of what prosecutors say was a massive bribery and kickback scheme.

Brazilian graft probe puts Swedish firm AF under microscope

22 Mar 2019

SAO PAULO, March 22 The arrest of a former Brazilian president on corruption charges is raising questions about how a Swedish consulting company won a contract to help build a nuclear power plant at the center of what prosecutors say was a massive bribery and kickback scheme.

Brazil's Vale fired inspection firm that failed to certify dam: prosecutors

05 Mar 2019

SAO PAULO/RIO DE JANEIRO Brazilian iron ore miner Vale fired an inspection firm because the company refused to certify one of its dams as safe, months before the barrier collapsed and killed hundreds, prosecutors said in a document filed this week, as they explained why they wanted top Vale executives ousted.

Brazilian state cancels Vale licenses at two mines in wake of disaster

06 Feb 2019

SAO PAULO The Brazilian state of Minas Gerais canceled Vale SA's license to operate a dam at one of its largest mines, the company said on Wednesday, following the collapse of another dam in the state that killed an estimated 300 people.

Vale to invest $400 mln to reduce need for tailings dams

06 Feb 2019

SAO PAULO, Feb 6 Vale SA, the world's largest iron ore miner, plans to invest some 1.5 billion reais ($400 million) starting in 2020 to reduce its reliance on tailings dams, it said late on Tuesday, after one collapsed last month, likely killing hundreds.

Why Brazil's business elites are warming to a far-right flamethrower for president

01 Oct 2018

SAO PAULO/BRASILIA Brazil's business class is quietly rooting for far-right presidential candidate Jair Bolsonaro to win the nation's highest office this month, fearful of a return to leftist rule in Latin America's largest economy.

World News

Indian PM Modi stuns opposition with "massive" election win

Indian Prime Minister Narendra Modi swept to a huge election victory on Thursday, on course to increase his majority and give his party the mandate to pursue business-friendly policies that put Hindus first and take a hard line on national security.