Vale SA (VALE)

[nygrande]

It's going to break $10 shortly. $VALE is resuming its operations in one of its mines that produces:

Vale to Restart 330,000 Tons of Monthly Output at Timbopeba Mine Next Week

11:01 AM ET 4/29/20 | Dow Jones


By Jeffrey T. Lewis

SAO PAULO--Brazilian iron-ore mining giant Vale SA will resume dry processing operations at its Timbopeba mine in Minas Gerais state next week, boosting monthly production by about 330,000 metric tons, the company said Wednesday.

Operations at the mine were suspended by court order in March of last year amid concerns about the safety of a mining waste dam at the site in the aftermath of the dam collapse disaster in Brumadinho that took the lives of 270 people the previous January.

Dry processing operations, which don't produce the kind of waste that accumulates behind dams and that flooded parts of Brumadinho last year, were authorised by Minas Gerais state authorities at Timbopeba.

Vale said it expects to restart wet processing activities at the mine in the fourth quarter of this year, which would permit Timbopeba to achieve full production capacity of about 1 million tons per month.

The resumption at Timbopeba of dry processing next week, and the expected restart of wet processing in the fourth quarter, are both included in Vale's production guidance for this year of 310 million tons-330 million tons, the company said.

Write to Jeffrey T. Lewis at [e-mail]

> Dow Jones Newswires

April 29, 2020 11:01 ET (15:01 GMT)

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