On March 14, 2023, Alcoa Corporation (the “Company”) approved the permanent closure of the Intalco aluminum smelter (the “Smelter”) located in Washington state, U.S.A, effective immediately. The Smelter has been fully curtailed since 2020. The Company’s decision to permanently close the Smelter was made after various options were evaluated for the Smelter. The Smelter has a … Read more
March 16, 2023 — United States Steel (NYSE:X) Provides first quarter 2023 guidance. The company provided earnings per share (EPS) guidance of $0.58-0.63 for the period, compared to the consensus estimate of $0.22. United States Steel also updated its Q1 2023 guidance to $0.58-$0.63 EPS. Adjusted EBITDA for the first quarter of 2023 is expected … Read more
Mining giant Vale (NYSE:VALE) announced that EBITDA for 2022 was $20.9 billion, down 38% year-over-year, mainly due to a 23.6% drop in real iron ore prices; The Company’s operating free cash flow was $5.7 billion during the reporting period, compared to $20 billion in 2021, due to a decline in EBITDA. Vale paid a total … Read more
PT Vale Indonesia Tbk has begun construction of an integrated low-carbon nickel mining and processing plant in Morowali, Central Sulawesi, Indonesia. The total investment cost is up to 37.5 trillion rupiah (US$2.48 billion), with a planned production capacity of 73,000 tons/year.
Brazilian mining giant Vale (NYSE: VALE) released its fourth quarter 2022 report on February 16, local time, under the pressure of production cuts and falling iron ore prices, net operating income in the fourth quarter fell 8.8% to US$11.94 billion, adjusted EBITDA from continuing operations was US$4.63 billion, down US$100 million year-on-year and up 960 … Read more
Vale (NYSE:VALE): Q4 2022 revenue of $11.941 billion, prior-valued $13.105 billion vs. $11.49 billion, exceeding market expectations by 3.93%; Earnings per share were $0.82 vs $1.07 prior, and $0.62 expected, beating market expectations by 32.26%.
JPMorgan cut its Vale S.A. (NYSE:VALE) price target to $17.50 from $20。