2020-02-26 05:10:501970-01-01 00:00:00

Industry News

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Vale SA: Dam Failure

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Another Dam Failure For Vale SA A dam in Brazil containing 6 million cubic metres of toxic mining waste has been reported to be close to bursting. Vale SA (NYSE: VALE), who operates the site, had witnessed its shares fall by more than 4% to $11.5/share after raising the alarm to local authorities. Vale SA Vale SA is one of the largest producers of iron ore and nickel which its sources from its mines in Brazil. Vale also produces other ores such as cobalt, manganese and copper. As a major operator of logistics in the region, it also controls a network of ports, railroads and associated transport vehicles. Financial standing for Vale SA remains strong up to 2019; since 2016, Vale SA managed to increase its bottom line from $3.9 to $6.9 billion. Future performance remains inextricably linked to China’s economy, which accounted for over 40% of iron sales in 2018. Despite the ongoing trade war between the US and China, its strong position comes from bullish iron ore prices and continued de

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