Latest news with #AliancaEnergia
Yahoo
25-04-2025
- Business
- Yahoo
Vale reports 17% drop in Q1 2025 net income amid lower iron ore prices
Brazil-based iron ore producer Vale has reported a 17% decrease in net income for the first quarter of 2025 (Q1 2025), ending 31 March, primarily due to lower iron ore prices. For the period, net income attributable to Vale's shareholders stood at $1.39bn, a drop from $1.67bn in the same period a year ago. Net operating revenues totalled $8.1bn, a 4% decrease compared to $8.45bn in the first quarter of 2024. The company's adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter stood at $3.1bn, a decline of 9%. Free cash flow during Q1 2025 declined sharply by 77% to $504m from $2.2bn in Q1 2024. At the end of 31 March 2025, Vale's net debt rose by 21% year-on-year to $12.19bn. Capital expenditures for the quarter were $1.17bn, reflecting a 16% decrease from the same period a year ago. Vale's C1 cash cost for iron ore fines, which reflects production expenses from mine to port, dropped 11% in the quarter, reaching $21 per tonne (t). Vale CEO Gustavo Pimenta said: 'We had a consistent start to the year, aligned with our objectives for 2025. We are seeing good momentum in cost management, with our C1 reaching US$21/t in Q1, continuing the year-on-year downward trajectory. 'Our value-accretive projects continue to progress, being essential elements towards enhancing our portfolio flexibility and improving operational and cost efficiency. At Vale Base Metals, the benefits of the Asset Review initiatives are emerging and we are laser-focused on delivering. 'Additionally, we have been consistently optimising our balance sheet through asset-light solutions, such as the transaction that created the strategic joint venture at Alianca Energia, which will also help us deliver on our long-term decarbonisation goals.' In February 2025, Vale said it plans to invest $12.26bn to expand iron ore and copper output in its main Carajas complex in northern Brazil. The investment plan focuses on expanding iron ore production to 200 million tonnes as well as increase copper production to 350,000t by 2030. "Vale reports 17% drop in Q1 2025 net income amid lower iron ore prices" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Business Insider
25-04-2025
- Business
- Business Insider
Vale reports Q1 pro forma EBITDA $3.21B vs $3.5B last year
Reports Q1 revenue $8.12B, consensus $8.16B. 'We had a consistent start to the year, aligned with our objectives for 2025. We are seeing good momentum in cost management, with our C1 reaching US$ 21/t in Q1, continuing the year-on-year downward trajectory. Our value-accretive projects continue to progress, being essential elements towards enhancing our portfolio flexibility and improving operational and cost efficiency. At Vale (VALE) Base Metals, the benefits of the Asset Review initiatives are emerging and we are laser-focused on delivering. Additionally, we have been consistently optimizing our balance sheet through asset-light solutions, such as the transaction that created the strategic joint venture at Alianca Energia, which will also help us deliver on our long term decarbonization goals. The current macroeconomic environment and market volatility reinforce the importance of our Vale 2030 strategy, whereby we are building an even more competitive company that can thrive in any market condition. With this approach, I'm confident we'll generate significant value for all of our stakeholders,' commented Gustavo Pimenta, Chief Executive Officer Stay Ahead of the Market:
Reuters
01-04-2025
- Business
- Reuters
Miner Vale to receive $1 billion in Alianca Energia JV deal
SAO PAULO, March 31 (Reuters) - Brazilian miner Vale ( opens new tab said on Monday it agreed to form a joint venture with U.S.-based investment firm Global Infrastructure Partners (GIP) through its Brazilian renewable energy business Alianca Energia. In a securities filing, Vale said it would sell 70% of Alianca Energia to GIP, receiving about $1 billion in cash once the transaction is completed. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Reuters had reported in February, citing sources, that Vale was in advanced talks to sell a majority stake in Alianca Energia and a solar plant to GIP. In the filing, Vale said that, after the deal, Alianca Energia will also consolidate Sol do Cerrado solar plant and 100% of hydro power plant Risoleta Neves, both located in the southeastern Minas Gerais state. Vale became sole owner of Alianca last year, when it paid 2.7 billion reais for the 45% stake held by power firm Cemig, with whom it launched the venture in 2013.
Yahoo
01-04-2025
- Business
- Yahoo
Miner Vale to receive $1 billion in Alianca Energia JV deal
SAO PAULO (Reuters) - Brazilian miner Vale said on Monday it agreed to form a joint venture with U.S.-based investment firm Global Infrastructure Partners (GIP) through its Brazilian renewable energy business Alianca Energia. In a securities filing, Vale said it would sell 70% of Alianca Energia to GIP, receiving about $1 billion in cash once the transaction is completed. Reuters had reported in February, citing sources, that Vale was in advanced talks to sell a majority stake in Alianca Energia and a solar plant to GIP. In the filing, Vale said that, after the deal, Alianca Energia will also consolidate Sol do Cerrado solar plant and 100% of hydro power plant Risoleta Neves, both located in the southeastern Minas Gerais state. Vale became sole owner of Alianca last year, when it paid 2.7 billion reais for the 45% stake held by power firm Cemig, with whom it launched the venture in 2013. Sign in to access your portfolio
