Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
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SAO PAULO, Jan 29 - The death toll from Vale's dam burst in the Brazilian town of Brumadinho rose to 84 people, and 276 were still unaccounted for, according to rescuers working at the site on Tuesday.They said that 48 people have been identified so far, as work continues in the area.(Reporting by Marcelo Teixeira Editing by James Dalgleish)Read More
Vale SA, the world's largest iron ore miner, on Tuesday vowed to take as much as 10 percent of its ore output offline in order to decommission 19 dams like the one that burst last week, killing scores of workers and nearby residents.Chief Executive Fabio Schvartsman said Vale would halt operations using those dams and spend 5 billion reais ($1.3 billion) to decommission them over the next three ye...Read More
On the campaign trail, presidential candidate Jair Bolsonaro attacked Brazil's environmental agencies and promised a bonfire of red tape. In office, a catastrophic mining accident is causing a sudden rethink.What we need at this moment is to join forces to create regulation that ensures - first of all - that best dam practices are implemented, and economic questions remain in second placeJust thre...Read More
Brazilian miner Vale SA identified concerns around its tailings dams in 2009 and studied but did not implement several steps that could have prevented or lessened the damage from last week's deadly disaster, according to a corporate presentation seen by Reuters.A tailings dam, used to store the muddy detritus of the mining process, collapsed on Friday, killing at least 65 in one of Brazil's larges...Read More
Brazil - Three employees of Brazilian miner Vale SA and two contractors were arrested on Tuesday, prosecutors said, as a criminal investigation began after a devastating dam rupture expected to leave a death toll of more than 300 people.Vale said it was cooperating with investigators in the case, which has enraged Brazilians and raised fresh questions about the company's commitment to safety after...Read More
As the death toll continues to rise from a fatal accident at a dam owned by Vale SA, the Brazilian miner's top management is coming under increased criticism in the highest levels of government."There must be punishment," Vice President Hamilton Mourao told reporters in Brazil's capital on Monday, adding that "if there was any malpractice, recklessness or negligence on the part of someone inside t...Read More
Brazilian miner Vale SA's shares plunged on Monday, wiping out 71.34 billion reais ($18.96 billion) in market value, after a tailing dam collapse on Friday killed scores of people less than four years after a similar disaster.Vale shares fell 24 percent on Monday to close at 42.65 reais, the steepest daily drop ever in percentage terms. Brazil's stock market was closed on Friday when the disaster...Read More
Vale SA investors must be asking themselves how the world's largest iron ore producer could allow an even more deadly repeat of Brazil's worst environmental disaster.The collapse of a tailings dam Friday in the state of Minas Gerais killed 58 people, with more than 300 still missing, and destroyed buildings. It's the second deadly disaster in about three years for Vale, which also co-owns the Sama...Read More
A deadly dam collapse is expected to keep Vale SA shares pressured in the short-term, as Friday's accident at the Feijao mine prompted 11.3 billion reais ($3 billion) in blocked funds and fines, leading the world's largest iron ore producer to suspend dividends.While sensing a limited impact to Vale's production, analysts highlighted risks including remediation charges, lawsuits, additional insp...Read More
An alarm warning of an imminent mining dam rupture was issued on Sunday morning near Brumadinho, the same Brazilian community where the collapse of a dam at Vale's (NYSE:VALE) C??rrego do Feij??o mining complex on Friday killed at least 58, while more than 400 are still missing.The alert of "dangerously high water levels" at another dam that is part of the same mining complex in south-east B...Read More
As early as next week, iron ore prices may start to reflect the impacts of Vale's dam bursting at Corrego de Feijao in Brumadinho, Minas Gerais, according to an analysis by S&P Global Platts.The effect on supply will be felt in the markets at the end of Q1, when other participants had expected an increase in demand from the Chinese plants that will soon be restocking and increasing their capacity...Read More
A tailings dam at a Brazilian iron ore operation owned by local mining giant Vale (NYSE:VALE) burst Friday, releasing a river of sludge that covered nearby buildings and forced the evacuation of hundreds of locals.By Saturday morning, 34 bodies had been recovered, and the death toll was expected to rise sharply as rescuers continued searching for hundreds that are still missing.Vale reported the d...Read More
Fremont Gold Ltd. (TSXV:FRE) (FSE: FR2) (OTC Pink: USTDF) (Read full newsRead More