Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  BOLSA DE VALORES DE SAO PAULO  >  Vale SA    VALE5   BRVALEACNPA3

VALE SA (VALE5)

End-of-day quote. End-of-day quote  - 07/26
14.59 BRL   +4.29%
12:43p Chinese miners call for anti-dumping probe into iron ore imports
07/21DJBrazil's Vale Iron Ore Output Falls in Second Quarter
07/21 VALE : 2Q16 Production Report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Argentina Says Vale Confirms Mine Project Moving Ahead

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/12/2012 | 12:23am CEST

Despite recent comments indicating that it may be reconsidering a $6 billion fertilizer project in Argentina, Brazilian mining company Vale SA (VALE, VALE5.BR) re-iterated a pledge to invest $1 billion this year to move ahead with construction, Argentina's planning ministry said in a statement Friday.

Vale's local executives met with the planning minister and mining secretary Friday and "ratified that they will spend $1 billion on the Rio Colorado project this year," planning ministry spokesman Horacio Mizrahi said in the statement.

The government is keen to show that the massive mining project is moving forward amid signs that investors are wary following the Argentine government's decision last month to nationalize the country's largest oil company, YPF SA (YPF, YPFD.BA).

On May 3, Vale Chief Executive Murilo Ferreira said the company planned to make a decision on the project's future on May 20. Vale is evaluating Rio Colorado in view of Argentina's economic situation, Ferreira told reporters. There may now be "new factors in the project's construction," Ferreira said.

A Vale spokesman declined to comment.

At the end of April, the Vale executive said that the project was already up for review even before the YPF takeover because of Vale's concern over "an explosion in inflation" of around 30% a year in Argentina, and "a series of discussions over infrastructure, port, railroad and taxes."

However, Argentine authorities are keen to send out signals that the project is on track.

Next week, Vale officials are scheduled to meet with the new president of state-run YPF Miguel Galuccio to discuss plans to develop tight gas deposits in the Lajas fields needed to provide the project's power, the planning ministry said.

Vale bought the potash mine project from Rio Tinto PLC (RIO, RIO.LN) in 2009 and production is slated for 2014.

Heated water will be pumped deep under the surface of the site in the remote southern tip of Mendoza province to bring the potash to the surface.

The project also calls for construction of a railroad to carry the mine output to a port on the Atlantic Ocean and an electric power plant at the Rio Colorado site.

-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; shane.romig@dowjones.com

--Jeff Fick in Rio de Janeiro and Alberto Messer in Buenos Aires contributed to this article.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on VALE SA
12:43p Chinese miners call for anti-dumping probe into iron ore imports
07/21DJBrazil's Vale Iron Ore Output Falls in Second Quarter
07/21 VALE : 2Q16 Production Report
07/21 VALE : 07/21/2016 2Q16 Production Report
07/20DJBusiness Watch -- WSJ
07/20DJBHP Billiton's Iron Ore Production Shows No Signs of Slowing
07/19DJBHP Billiton Iron Ore Output Slips as Commodities Output Broadly Lower
07/18DJRio Tinto's Quarterly Iron Ore Shipments Rise
07/14 Samarco seeks huge job cuts as mine stays shut after dam spill - BHP
07/05 Vale sells ore ships to Chinese buyers
More news
Sector news : Steel - NEC
03:56pDJAK Steel Swings to Profit
07/22DJFosun Group Insurance Unit Files for IPO in U.S.
07/22DJNUCOR : Steelmaker Nucor Makes a Robust Forecast as Profit Jumps -- WSJ
07/21DJNUCOR : Profit Soars on Lower Costs, Improving Steel Prices -- Update
07/21DJNUCOR : Profit Soars on Lower Costs, Improving Steel Price Trends
More sector news : Steel - NEC
News from SeekingAlpha
10:23a REUTERS : Big miners may be forced to speed asset sales as price drops loom
07:45a Chinese miners seek anti-dumping probe into iron ore imports
07/25 LATIN AMERICAN ADRS' HEATMAP : Weekly Update
07/23 What Majors' Production Reports Tell Us About Iron Ore Prices?
07/22 Vale - The Risks Are Overblown
Advertisement
Financials ($)
Sales 2016 24 457 M
EBIT 2016 3 845 M
Net income 2016 1 811 M
Debt 2016 22 777 M
Yield 2016 -
P/E ratio 2016 9,85
P/E ratio 2017 7,45
EV / Sales 2016 1,98x
EV / Sales 2017 1,88x
Capitalization 25 697 M
More Financials
Chart VALE SA
Duration : Period :
Vale SA Technical Analysis Chart | VALE5 | BRVALEACNPA3 | 4-Traders
Full-screen chart
Technical analysis trends VALE SA
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Average target price 5,95 $
Spread / Average Target 40%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Murilo Pinto de Oliveira Ferreira Chief Executive Officer
Gueitiro Matsuo Genso Chairman
Luciano Siani Pires Chief Financial Officer
Oscar Augusto de Camargo Filho Director
Luciano Galvão Coutinho Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
VALE SA36.00%25 697
NIPPON STEEL & SUMITOM..-16.08%19 295
ARCELORMITTAL71.76%17 685
POSCO--.--%17 071
NUCOR CORPORATION30.00%16 656
THYSSENKRUPP AG6.35%12 337
More Results