Vale SA (ADR) (NYSE:VALE) has announced the sale of its future gold output valued at $800 million as part of its strategy to reduce its $27 billion debt portfolio. Vale’s debt is load is the second largest debt portfolio after Glencore International PLC, St. Helier (OTCMKTS:GLCNF). Vale’s plan, for now, is to reduce the debt […]
Vale SA (ADR)
Vale SA (ADR)(NYSE:VALE) Net Debt Declines Almost 1% To $27.5 Billion
Vale SA (ADR)(NYSE:VALE) reported that net debt in the second quarter of 2016 dropped almost 1% to $27.5 billion, while the cost of supplying iron ore to China declined to $30.30 a tonne including capital costs. However, with capital costs excluded, the cost of supplying iron ore to China stood at $28.50 a tonne. Luciano […]
