Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Vale SA    VALE5   BRVALEACNPA3

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsSector newsTweets

Vale SA : Brazil's Vale Iron-Ore Production Falls 3.5% in First Quarter

share with twitter share with LinkedIn share with facebook
share via e-mail
04/18/2013 | 12:22am CET

By Paul Kiernan

RIO DE JANEIRO--Brazilian mining giant Vale SA said Wednesday its production of iron ore fell in the first quarter from a year earlier amid operational and permitting issues, while output of other key products such as coal and nickel rose.

Vale, the world's largest iron-ore miner and No. 3 mining company by market capitalization, said production of the main steelmaking component fell 3.5% in the January to March period, to 67.54 million metric tons. A Dow Jones Newswires survey of five analysts' expectations had produced a median estimate of 68.3 million tons.

Despite the drop, the company reiterated its forecast to produce 306 million tons of iron ore in 2013. The first quarter tends to be the weakest of the year for Vale's operations, as the Southern Hemisphere rainy season typically reduces output of iron ore, manganese and copper in Brazil and coal in Australia and Mozambique.

Operational and permitting snags contributed to the decline in iron-ore output. At the company's Itabira complex in Brazil's Minas Gerais state, iron-ore production dropped 17% in the quarter because of lower-quality raw material. Output at Vale's Mariana mining system was limited by permitting issues for new mine sections, while maintenance stoppages hit production elsewhere.

The lower production likely limited Vale's ability to capitalize on a strong rebound in global prices. According to data provider The Steel Index, average spot prices for ore with 62% iron content at Chinese ports rose 23% in the first quarter from the previous three months to $148.20 per metric ton. In the first quarter of 2012, the price stood at $141.85.

Vale reduced its production of iron-ore pellets by 12% in the first quarter to 11.67 million tons. A number of plants were shut down to accommodate weaker global demand.

Iron ore and pellets accounted for 68% of Vale's operating revenue in 2012.

Vale's other main business segments performed better in the first quarter.

Nickel production rose 3% in the first quarter to 63,000 tons, as better "reliability" in Canada and the ramp-up of its New Caledonia operations offset the ongoing shutdown of Vale's Onca Puma facility, which isn't expected to restart until the end of 2013.

Coal production rose 17% to 1.75 million tons as the strong performance of Vale's Carborough Downs operation in Australia made up for a monthlong force majeure, caused by heavy rainfall, at its Moatize complex in Mozambique.

Vale added that its copper production rose 23% in the first quarter to 89,500 tons, while output of manganese ore increased 3.5% to 501,000 tons.

Write to Paul Kiernan at [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on VALE SA
11/22 VALE : BHP Billiton Limited - Samarco update
11/21 VALE : 11/21/2017 Notice to the Market - Withdrawal rights
11/21 VALE : Yara to acquire Vale Cubatao Fertilizantes complex in Brazil
11/21 VALE : Clarifies on the Sale of a Stake in Vale New Caledonia (VNC) Nickel Mine
11/21DJSamarco, Owners Get More Time to Negotiate Dam-Collapse Claims
11/18 VALE : Announces the Sale of Its Nitrogen and Phosphate Assets in Cubatao to Yar..
11/17 VALE : 11/17/2017 Vale announces the sale of its nitrogen and phosphate assets i..
10/31 BHP BILLITON : Samarco Update - Preliminary Agreement
10/31 BHP, Vale get short extension on Brazil mine disaster settlement
10/27 VALE : Informs on Estimates Update
More news
News from SeekingAlpha
11/20 BHP, Vale get five-month extension to settle $48B Samarco claim
11/20 BHP-Vale deal with prosecutors distances Samarco from $53B in lawsuits
11/20 Vale sells Brazil nitrogen and phosphorus assets to Yara for $255M
11/17 REUTERS : Vale delays sale of stake in New Caledonia nickel mine
11/15 Cliffs - Make Or Break
Financials ($)
Sales 2017 32 080 M
EBIT 2017 10 929 M
Net income 2017 5 973 M
Debt 2017 19 016 M
Yield 2017 2,53%
P/E ratio 2017 6,90
P/E ratio 2018 7,89
EV / Sales 2017 2,37x
EV / Sales 2018 2,34x
Capitalization 56 939 M
Duration : Period :
Vale SA Technical Analysis Chart | VALE5 | BRVALEACNPA3 | 4-Traders
Technical analysis trends VALE SA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 11,6 $
Spread / Average Target 15%
EPS Revisions
Fábio Schvartsman Chief Executive Officer
Gueitiro Matsuo Genso Chairman
Luciano Siani Pires Chief Financial Officer
Oscar Augusto de Camargo Filho Director
Eduardo de Salles Bartolomeo Director
Sector and Competitors
1st jan.Capitalization (M$)
VALE SA40.29%56 939
KUMBA IRON ORE LTD.101.89%7 591
NMDC LIMITED2.19%6 144
FERREXPO PLC96.95%2 064