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

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

VALE SA (VALE5)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
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
0
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]

Stocks mentioned in the article
ChangeLast1st jan.
VALE SA 1.55% 33.36 End-of-day quote.0.00%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on VALE SA
02/23Altamira Commences Copper Exploration Program in Juruena Belt, Mato Grosso, B..
AQ
02/21COMMODITIES BUZZ : Vale Indonesia Nickel Output Slides In Last Quarter Of 2017
AQ
02/21Altamira Commences Copper Exploration Program in Juruena Belt, Mato Grosso, B..
AQ
02/16As mining investors push caution, Glencore differs from rivals
RE
02/06VALE : 02/06/2018 Vale announces details on 4Q17 performance conference calls an..
PU
02/06VALE : Announces Dates for Reporting of 4Q17 Performance
AQ
02/02VALE : 02/02/2018 Vale announces dates for reporting of 4Q17 performance
PU
01/25VALE : African Rainbow Minerals - Fulfilment of conditions precedent regarding t..
AQ
01/13VALE : Pays Interest on Infrastructure Debentures
AQ
01/12VALE : 01/12/2018 Vale pays interest on infrastructure debentures
PU
More news
News from SeekingAlpha
2017Iron ore seen sinking back to $50/ton at Goldman Sachs 
2017Brazil mining code unchanged as Senate fails to vote on bill 
2017Copper execs expect balanced market but warn on regulation 
2017The Acquirer's Portfolio - Large Cap 
2017Vale, Mitsui get $2.7B project financing for Nacala logistics corridor 
Financials ($)
Sales 2017 32 357 M
EBIT 2017 10 954 M
Net income 2017 5 420 M
Debt 2017 17 920 M
Yield 2017 2,14%
P/E ratio 2017 11,83
P/E ratio 2018 12,98
EV / Sales 2017 2,85x
EV / Sales 2018 2,80x
Capitalization 74 266 M
Chart VALE SA
Duration : Period :
Vale SA Technical Analysis Chart | VALE5 | BRVALEACNPA3 | 4-Traders
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 18,7 $
Spread / Average Target 33%
EPS Revisions
Managers
NameTitle
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 & Executive Officer-Base Metals Division
Sector and Competitors
1st jan.Capitalization (M$)
VALE SA0.00%74 266
VALE11.28%74 266
FORTESCUE METALS GROUP LIMITED4.51%12 654
KUMBA IRON ORE LTD.-11.27%9 713
NMDC LTD-8.19%6 175
FERREXPO PLC4.09%2 506