Vale third quarter beats estimates, earns $4.45 billion Vale saw a recovery in nickel and copper output in a sign that it’s leaving behind a string of operational setbacks, Bloomberg said. The base metals business is under the spotlight as Vale takes advice on options to unlock value, which could mean a spin-off that goes public or even a strategic partnership.
“We have very high ambitions around this business,” CEO Eduardo Bartolomeo said at a conference last week. “We can be the consolidator, we can be the biggest future commodities company. It’s time to think big.”
Vale, of course, is Sudbury’s largest sector employer with almost 4,000 workers and five mines, a mill, a smelter and a refinery in one of the largest integrated mining complexes in the world.
Sudbury products include nickel, copper, cobalt, platinum group metals, gold and silver.
https://www.thesudburystar.com/news/local-news/vale-third-quarter-beats-estimates-earns-4-45-billion-profit