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News Breaks
December 19, 2012
12:17 EDTVALEVale resolves tax dispute with Swiss federal authorities.
In a regulatory filing from earlier today, Vale informs that its wholly-owned subsidiary Vale International (ValeI), based in St. Prex, Canton of Vaud, Switzerland, has resolved its tax dispute with the Swiss federal authorities. The tax dispute was related to the federal tax holiday granted to ValeI in 2006 and the differences in its interpretation. Vale decided to clear the dispute and will pay the additional taxes claimed by the Swiss federal authorities for a total of CHF 212M. Vale has made a provision of US$ 37 million and the difference will impact our income statement in the fourth quarter of 2012. Payment will be made in installments, starting in January 2013, with the last one taking place in 2015.
News For VALE From The Last 14 Days
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November 27, 2015
10:31 EDTVALEVale to hold Vale Day
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November 23, 2015
08:37 EDTVALEU.S. district judge dismisses Rio Tinto case against BSG Resources
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November 20, 2015
06:15 EDTVALEVale to close Manitoba nickel and smelting operations in 2018, Reuters reports
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November 19, 2015
06:40 EDTVALEBHP Billiton backs dividend policy amid profit slump, CNBC reports
BHP Billiton (BHP) defended its dividend policy amid a drop in share prices and profits slump this year as well as weak China growth and a recent mine disaster in Brazil, CNBC reports. BHP chairman Jacques Nasser said at the company's annual meeting that the dividend policy is the result of "appropriate capital management," the report says. In addition, the company said it and joint venture partner Vale (VALE) will be commissioning an external probe of the Samarco dam spill, the report says. Reference Link
November 17, 2015
06:17 EDTVALEBHP Billiton reviewing all dams worldwide, U.K. Times reports
BHP Billiton (BHP) CEO Andrew Mackenzie told analysts and investors at the company's annual general meeting that the company is reviewing all of its dams worldwide after the Samarco mudslide in Brazil killed at least nine people, The U.K. Times reports. Mackenzie also said BHP is considering moving away from the arrangement under which mines that it partly owns are managed by committee rather than by a single operator; the Samarco mine is half run by BHP, with the remainder owned by Vale (VALE). Reference Link
November 16, 2015
18:50 EDTVALESamarco to set aside $262M for initial costs after Brazil dam breach, WSJ says
Samarco, a joint venture of Vale (VALE) and BHP Billiton (BHP), reached an agreement with Brazilian prosecutors to establish an initial $262M cleanup fund related to two dam breaches at its iron-ore mines in Minas Gerais state, reports the Wall Street Journal. Reference Link
13:26 EDTVALEVale: It will take 'years' for Rio Doce river to recover, Reuters reports
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