Vale’s Brucutu Restart May Cool Iron Ore Prices, BHP Group and Vale FVEs Retained
No-moat Vale expects its 30 million tonne Brucutu mine to restart in just a few days. We expected Brucutu to return in 2019 but the timing was uncertain. Vale is mending its credibility and faces elevated regulatory scrutiny. With China’s iron ore futures down nearly 5% intraday in response, it seems some were betting Vale’s supply woes would persist to support the elevated iron ore price.Brucutu coming back is important to sentiment. We’ve seen euphoria in the iron ore stocks, fuelled by a ser...
BHP Billiton is a resources company. Co. extracts and processes minerals, oil and gas, primarily in Australia and the Americas. Co. operates four reportable segments: Petroleum, which is engaged in the exploration, development and production of oil and gas; Copper, which is engaged in the mining of copper, silver, lead, zinc, molybdenum, uranium and gold; Iron Ore, which is engaged in the mining of iron ore; and Coal, which is engaged in the mining of metallurgical coal and energy coal. Co.'s Petroleum unit comprises conventional and unconventional oil and gas assets, and includes exploration, development and production activities.
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