On August 21, Vale SA rose 3.02% in regular trading, trading at $14.645/share, with turnover of $185 million.
On the news front, a Brazilian court disclosed that the compensation agreement between Vale and BHP regarding the 2015 Mariana dam collapse has been joined by 19 additional cities. The deal, signed and ratified in October 2024, now has the support of 45 of the 49 eligible municipalities, substantially reducing legal uncertainty surrounding one of the company's most significant legacy liabilities. The court indicated it remains available to accept consent from the four remaining cities.
Simultaneously, the global base metals sector provided broad tailwinds, with LME copper prices breaking above $10,000/ton and gold surpassing $5,100, fueling bullish sentiment across the mining and metals complex. Within the Steel & Iron sector, Cleveland-Cliffs rose 7.91%, Steel Dynamics gained 5.05%, Nucor advanced 3.31%, ArcelorMittal SA climbed 2.97%, and Reliance Steel & Aluminum added 1.85%.
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