New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 20, 2012
19:37 EDTVALEVale to take $4.2B pre-tax charge in Q4
Vale S.A. informs that it has concluded the annual assessment of Onša Puma and aluminum assets, which will imply the recognition of an impairment charge before tax of $4.2B, thus affecting our earnings in Q4. The issues with the two furnaces of Onša Puma determined the total stoppage of its ferronickel operations since June. After analyzing the case, Vale decided to rebuild one of the furnaces, at an estimated cost of $188M in 2013, and plans its start up in 4Q13. Given this event and in face of the current market environment for ferronickel, the valuation of Onša Puma determined the need to recognize an impairment charge before tax of $2.848B. The book value of Onša Puma was $3.778B as of September 30. The downward volatility of aluminum prices and the macroeconomic uncertainties about the European economy have contributed to reduce the market value of our 22% stake in Hydro ASA, a Norwegian aluminum producer, to a level below the book value of our investment. Based on Hydro share prices at September 30, we are recognizing an impairment charge before tax of $1.3B, which will impact our 4Q12 net earnings. Reference Link
News For VALE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 26, 2015
07:13 EDTVALEVale could sell ships, rail stake before selling mining assets, Reuters reports
Subscribe for More Information
March 25, 2015
13:15 EDTVALEVale initiated with an Outperform at Macquarie
Subscribe for More Information
05:52 EDTVALEStocks with implied volatility movement; VALE PM
Subscribe for More Information
March 23, 2015
11:26 EDTVALEStocks with call strike movement; VALE RAD
Subscribe for More Information
March 19, 2015
11:26 EDTVALEVale management to meet with Jefferies
Meetings to be held in Boston/New York on March 25-26 hosted by Jefferies.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use