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Vale SA

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  • RIO DE JANEIRO, April 30- Brazil's Vale SA said on Thursday it could reduce forecasted iron ore production by up to 30 million tonnes over the next two years, as the miner tries to resuscitate margins in the midst of a severe price slump. In a major strategy shift following Vale's third quarterly loss in a row, executives said they would focus on improving margins...

  • RIO DE JANEIRO, April 30- Brazil's Vale SA said on Thursday it expects to replace some old higher-cost iron ore production as new capacity comes on stream, the clearest sign yet the miner could cut future output forecasts due to weak prices. Any move to curb output growth by the world's largest producer of iron ore will be closely watched by a market currently in...

  • Brazil's Petrobras names new board members Wednesday, 29 Apr 2015 | 5:37 PM ET

    RIO DE JANEIRO, April 29- Shareholders of Petrobas, Brazil's state-run oil producer, elected new members to the board of directors on Wednesday, outgoing board member Silvio Sinedino told Reuters. Murilo Ferreira, chief executive of miner Vale SA, will take over as chairman of the board at Petrobras, or Petroleo Brasileiro SA, Sinedino added.

  • April 29- Cliffs Natural Resources Inc, which is struggling to cope with oversupply in the iron ore market, blamed industry leaders BHP Billiton Ltd, Rio Tinto Plc and Vale SA for weak prices of the commodity. But Wolfe Research analyst Gordon Johnson said "the idea that someone is going to buy coal assets from Cliffs is highly unlikely," noting that the company has...

  • April 29- Cliffs Natural Resources Inc, which is struggling to cope with an over-supplied iron ore market, blamed industry leaders BHP Billiton Ltd, Rio Tinto PLC and Vale SA for weak prices for the commodity. The prices are depressed "not by the fact that these guys produce a lot of iron ore, but by the fact that they are saying that they will produce a lot more," Cliffs...

  • More pain in store for iron ore?   Sunday, 12 Apr 2015 | 10:35 PM ET
    More pain in store for iron ore?

    Mike Harrowell, director, Resources Research at BBY, expects the decline in iron ore prices to continue until mid-2015, with new supply of the steel-making ore due in June.

  • China pressures small miners as iron ore slides Monday, 6 Apr 2015 | 7:37 PM ET
    Two employees tie up steel bars at a steel-making plant in Ganyu, China.

    Chinese steelmakers are helping the biggest miners tighten their grip on iron ore production by paying the depressed spot prices.

  • SAO PAULO, March 31- Petrobras, Brazil's state-run oil company, will not sell its fuel distribution arm as part of its ongoing asset sale plan, company board member Silvio Sinedino said on Tuesday. In a live speech broadcast on Youtube, Sinedino said Aldemir Bendine, chief executive of the company, officially Petroleo Brasileiro SA, told a recent board meeting that...

  • SAO PAULO, March 30- Brazil's state-run oil company Petroleo Brasileiro SA said in a securities filing on Monday that Mauro Gentile Rodrigues da Cunha, the board member elected by minority shareholders, had decided not to run for another term.

  • SAO PAULO, March 12- Brazilian meats company JBS SA plans to focus on Australia, its U.S. pork operations and its processed foods division under a 2015 strategy focused on "organic expansion" rather than acquisitions, CEO Wesley Batista said on Thursday. JBS plans to finalize its $1.25 billion purchase of Australian processed foods maker Primo Smallgoods this...

  • Lightning Round: A mistake to turn on this sector Monday, 9 Mar 2015 | 7:56 PM ET
    Mad Money Lightning Round

    Are you ready skeedaddy???!!! It's time for the Lightning Round. Cramer makes the call on viewer favorites.

  • Gold ends lower around $1,204 an ounce Tuesday, 3 Mar 2015 | 3:02 PM ET

    Gold steadied as positive technical signals & an easing of the dollar against a basket of currencies helped the metal to recover from early losses.

  • MANILA, March 3- Gold was steady above $1,200 an ounce on Tuesday after falling off a two-week peak the session before, struggling to push higher as the dollar hovered near an 11- year high. *Spot gold was nearly flat at $1,207.25 an ounce by 0012 GMT. It touched a two-week high of $1,223.20 on Monday on firm Chinese demand before closing lower.

  • RIO DE JANEIRO, Feb 26- Shares in Brazil's Vale SA plunged 5 percent on Thursday as the miner posted full-year net income well below analyst forecasts due to a weaker iron ore price and Brazilian currency. The halving of iron ore prices has hit the world's largest producer of the steelmaking ingredient as increased output from Australia coincided with slower...

  • RIO DE JANEIRO, Feb 26- Brazilian miner Vale SA posted full-year net income of $657 million on Thursday, well below analyst forecasts, hurt by weakness in iron ore prices and in Brazil's real currency versus the dollar. Despite record production of iron ore and nickel last year, the dramatic fall in profits and cash flow is increasing pressure on Vale to sell assets...

  • RIO DE JANEIRO, Feb 19- Brazilian miner Vale SA said on Thursday it produced 319.2 million tonnes of iron ore in 2014, beating its forecast for the year, as it begins to boost production after years of stagnation. The growth in production will be more than offset by falling iron ore prices, which fell by half last year as a massive increase in Australian capacity...

  • Asian equities mixed on Greece, but Tokyo outperforms Thursday, 12 Feb 2015 | 6:25 AM ET

    Asian stocks traded mixed on Thursday, as euro zone finance ministers failed to reach a deal with Greece, while losses in oil prices overnight compounded the depressed sentiment.

  • Why iron ore won’t rebound any time soon Monday, 26 Jan 2015 | 10:53 PM ET
    Rail cars laden with iron ore arrive at the receiving facility at Fortescue Metals' Herb Elliott Port in Western Australia.

    Economists may teach that low prices and declining demand encourage producers to decrease supply, but the iron ore industry may have skipped class that day.

  • WASHINGTON, Jan 14- The International Monetary Fund plans to appoint a new deputy managing director who will for the first time focus on the day to day running of the global financial institution. Carla Grasso, who used to work at Brazil's Vale SA, the world's largest iron ore producer, will become a deputy managing director and the newly created Chief...

  • Jan 13- Former Xstrata Plc Chief Executive Mick Davis is considering a bid for Vale SA's nickel business, the Bloomberg reported. Davis's investment vehicle X2 Resources values Vale's nickel business at $5 billion to $7 billion, Bloomberg said, citing two people, who asked not to be identified because the negotiations are private. X2 has raised about $4.8...