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  • SAO PAULO/ BRASILIA, Dec 18- Brazil's economy is reeling from its worst year in a quarter century, and judging by major companies' investment plans for next year, things are about to get worse. Mining giant Vale SA plans to cut investments by a quarter and oil company Petrobras by a fifth in 2016. Brazil's biggest retailer, GPA SA, is cutting investment as much as 40...

  • *Iron ore seen at average $47 in 2016, $45 in 2017. *Lowest estimate was $25 for 2017. Benchmark 62- percent grade iron ore for delivery to China will average $47 a tonne in 2016 and $45 in 2017, according to the median forecasts of 14 analysts polled by Reuters.

  • *Iron ore seen at average $47 in 2016, $45 in 2017. *Lowest estimate was $25 for 2017. Benchmark 62- percent grade iron ore for delivery to China will average $47 a tonne in 2016 and $45 in 2017, according to the median forecasts of 14 analysts polled by Reuters.

  • *Fitch cuts Brazil to BB+ amid economic, political crisis. BRASILIA, Dec 16- Brazil lost its coveted investment-grade rating on Wednesday after Fitch became the second credit agency to downgrade the country's debt to junk status, citing concerns about an economic and political crisis threatening to topple President Dilma Rousseff. Investors barred from...

  • SAO PAULO, Dec 10- State prosecutors in Brazil said on Thursday they were bringing a civil lawsuit against miners Vale, BHP Billiton and their joint venture Samarco, an iron ore mine where a burst dam last month killed at least 13 people and devastated a nearby village. The public prosecutors in the state of Minas Gerais said they had taken the action after Samarco,...

  • SAO PAULO, Dec 9- Brazilian iron ore miner Vale SA said late on Tuesday in a filing it had completed the sale of four very large ore carriers, also known as Valemax class ships, to a consortium lead by ICBC Financial Leasing. ICBC is a subsidiary of the Industrial and Commercial Bank of China Limited. The deal was valued at $423 million and the resources were...

  • RIO DE JANEIRO, Dec 8- The Brazilian government and responsible mining companies must do more to ensure access to safe drinking water after a dam burst at a mine in early November and polluted a major river, a United Nations official said on Tuesday. The burst dam released about 60 million cubic meters of water and thick mining waste, equivalent to 25,000 swimming...

  • Mining stocks suffered from relentless selling on Tuesday, with Anglo American tumbling over 11 percent to a fresh record low.

  • SAO PAULO, Dec 7- A deadly dam burst at a Brazilian iron ore mine has triggered a civil lawsuit seeking 20 billion reais in environmental and property damages from mine operator Samarco and its owners, BHP Billiton Ltd and Vale SA, Vale said in a securities filing on Monday. The National Humanitarian Society has filed the lawsuit before a federal judge in Rio de...

  • LONDON, Dec 4- Brazil's Vale SA said on Friday that it plans to sell its 11 remaining Valemax iron ore carriers and lease them back in transactions that could raise $1.1 billion. Vale has been selling its part of the world's 35- vessel Valemax fleet for about $110 million each, Luciano Siani, chief financial officer of Rio de Janeiro- based Vale told investors at a...

  • SHANGHAI/ MANILA, Dec 4- Cash-strapped Chinese steel mills are dumping iron ore stocks, selling at a loss to shore up cash flow in the latest sign of the sector's worsening crisis, steel mill and trader sources said. This week, prices for the raw material hit their lowest in a decade at $40.30 a tonne, while futures contracts fell to record lows of $33 a tonne for 2016....

  • RIO DE JANEIRO, Dec 2- Brazil's attorney general has asked the supreme court to uphold the closure of Brazilian mining company Vale SA's Onça Puma nickel mine for allegedly failing to meet the terms of its environmental license, the prosecutor said on Wednesday. Located in Brazil's Amazon region, Onça Puma produced 5,900 tonnes of nickel in the third quarter,...

  • NEW YORK, Dec 1- Brazil's Vale SA said November's deadly mining disaster could cost it at least $443 million, but it was too early to put a price tag on what it expects to be a long clean-up from the pollution spilled in the dam burst. Chief Executive Officer Murilo Ferreira said environmental recovery from the disaster on Nov. 5 at the Samarco joint venture co-owned...

  • NEW YORK, Dec 1- Brazil's Vale SA said November's deadly mining disaster could cost it at least $443 million, but said it was too early to put a price tag on what it expects to be a long clean-up from the pollution spilled in the dam burst. Chief Executive Officer Murilo Ferreira said environmental recovery from the disaster on Nov. 5 at the Samarco joint venture...

  • NEW YORK, Dec 1- Brazil's Vale SA prepared investors on Tuesday for a difficult 2016, unveiling a plan that includes about $6 billion in capital investment cuts and $443 million in expected costs to clean up a November mine disaster. CEO Murilo Ferreira said environmental recovery from last month's dam burst at the Samarco joint venture co-owned with BHP...

  • RIO DE JANEIRO/ SAO PAULO, Dec 1- Brazil's Vale SA prepared investors for a difficult 2016 on Tuesday, unveiling a plan that includes about $6 billion in capital investment cuts and $443 million in expected costs to clean up a November mine disaster. Ahead of the Rio de Janeiro- based mining company's annual "Vale Day" event in New York later Tuesday, Chief Executive...

  • Traders work on the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.

  • U.S. stock futures pointed to a higher opening on Wall Street this morning on the first day of December, after November managed to eke out a second consecutive month of gains.

  • SAO PAULO, Dec 1- Brazilian miner Vale SA said in a Tuesday presentation that the impact of the Samarco dam burst could be $443 million in 2016 and that it planned to reduce investments by around $6 billion next year.

  • BRASILIA, Nov 30- Brazil filed a lawsuit on Monday against two of the world's largest mining companies for 20 billion Brazilian reais to clean up what it says was its worst environmental disaster, caused by the collapse of a tailings dam. The governments of Brazil and those of two states hit by the damburst sued iron ore operator Samarco and its co-owners, the...