Vale S. A. (VALE)

[Saving Grace]

VALE Several VALE mines CLOSED or suspended and this stock still goes up. Can anybody figure this out? Central Bank scam is all i can see. The decline of production is because of VALE and they still go up. It doesn't make sense other than being a complete Wall Street, Central Bank scam from fraudulent banks actively pumping the wrong stock and shorting the others.

We need Reform.

(Wednesday) RIO DE JANEIRO (Reuters) - Brazil’s mining regulator ANM on Wednesday said it had suspended operations at 54 tailings dams due to lack of stability.

https://www.reuters.com/article/us-brazil-mining/brazil-mining-regulator-says-suspends-operations-at-54-unsafe-tailings-dams-idUSKBN1WO27X
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(second source)

https://www.mining.com/web/brazil-mining-regulator-says-suspends-operations-at-54-unsafe-tailings-dams/

Brazil mining regulator says operations suspended at 54 unsafe tailings dams
Reuters | October 9, 2019 | 10:16 am Latin America

Brazil’s mining regulator ANM on Wednesday said it had suspended operations at 54 tailings dams due to lack of stability.

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(third source)
Brazil watchdog halts ops of 54 tailings dams on safety concerns
Bnamericas Published: Wednesday, October 09, 2019
Corporate social responsibility (CSR) Legislation & Regulation Iron ore
Brazil watchdog halts ops of 54 tailings dams on safety concerns

Brazilian mining watchdog ANM has suspended operations at 54 tailings dams in the country, stating the sites have unproven levels of stability and therefore could pose a danger.

ANM stated that the owners of the dams had failed to submit their stability status declarations (DCE) for the second half of 2019.

The document is mandatory for the 423 dam structures included in the national dam safety policy and had to be delivered to the authority by September 30.

"DCE-halted dams are being closely monitored daily by ANM agents," said Luiz Paniago, mine dam safety manager at the regulator.

ANM's policy follows the collapse of the Córrego do Feijão iron ore tailings dam (pictured) in Brumadinho earlier this year, which killed some 300 people. The dam was owned and operated by local mining giant Vale.

COMPANIES

Over a quarter (14) of the total number of dams at which operations have been suspended belong to mining giant Vale, all of them in Minas Gerais state.

According to the watchdog, two of Vale's dams, in Ouro Preto and Barão de Cocais, are rated at "level 3", meaning there is imminent risk of problems.

Two others in Ouro Preto are classified at "level 2", as actions are being taken to remedy the situation, but controls of anomalies are not effective.

The remaining dams, rated at "level 1", have potential safety risks, ANM said in a statement on Wednesday. They are located in the municipalities of Nova Lima, Mariana, Ouro Preto, Itabirito, Belo Vale, Itabira and Brumadinho.

Other companies which have dams rated at emergency levels by ANM include Mosaic Fertilizantes (level 1, not stable), Mineração Usiminas (level 1, stable), Nacional Minérios and ArcelorMittal Mineração Serra Azul (both at level 2, not stable).

A Vale press official told BNamericas that the company had commented on the matter in a release dated October 1, which reads that the company had 82 positive DCEs for 2H19.

"It is important to remember that most [suspended] dams have already been disabled," the press official said.

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https://www.bnamericas.com/en/news/brazil-watchdog-halts-ops-of-54-tailings-dams-on-safety-concerns