Vale Has Its Best Year

Vale recently reported stellar performance for the fourth quarter and 2010 overall. The company posted all-time high figures for operating revenues, operating income, operating margin, cash generation and net earnings. At the same time, the Brazilian iron ore producer allocated the greatest amount of resources in the global mining industry to fund the creation of new platforms for future growth to sustain high performance, explained Roger Agnelli, CEO, Vale.

“We are living through our best days,” Agnelli said. “However, given the size and quality of our pipeline of growth projects amid a scenario of sustained global demand growth for our products, I strongly believe even better days are ahead of us.”

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Stillwater Mining Reports Highest Earnings in a Decade

Stillwater Mining Co. recently reported 2010 net income of $50.4 million on revenues of $555.9 million. Contributing to the net income in 2010 were higher PGM prices and a recovery in recycling volumes, along with continued focus on productivity and controlling costs.

The 2010 net income compares to a full-year 2009 net loss of $8.7 million on revenues of $394.4 million. In addition to other accounting related expenses, the results for 2009 also reflected significant operating losses incurred early as production costs at the company’s mines for a time exceeded average sales. However, restructuring efforts and a gradual increase in PGM prices had reversed this trend by the end of the first quarter of 2010.

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Xstrata Orders Gearless Drive for Antapaccay Conveyor

Siemens’ Industry Solutions Division has received an order from ThyssenKrupp Robins of Greenwood Village, Colorado, USA, to supply a gearless drive system for an overland conveyor at Xstrata Copper’s Antapaccay copper mine in Peru. The overland conveyor is being supplied by ThyssenKrupp and will transport ore over a distance of some 6.5 km from the mine to the processing plant. The belt will be 1,372 mm wide, travel at 6.2 m/sec, and is designed to transport approximately 5,260 tons of material per hour. This will be the first installation of a gearless-drive conveyor system outside Germany, said Siemens, which expects the system to be commissioned in 2012.

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Global Explosives Group Establishes Presence in Latin America

AEL Mining Services, an international leader and innovator in commercial explosives and blasting solutions, has opened offices in Santiago, Chile, to distribute its range of products and services to the Latin American market through partnerships with, ENAEX SA, ENAEX ARGENTINA SRL, Britanite and EXSA SA, well established channel operators in the mining arena.

Although AEL has supplied product to the region for more than eight years, it is only through this move that customers in the region now have consistent access to technology and training, including the best approach to the deployment of AEL’s electronic detonator innovations, underground bulk systems and education around the advantages offered by AEL’s Mining Optimization services.

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