VALE

mmmmmm Interesting one of the majors doing it tough?

it's nice to have some I/O and be in the game, we give it away and we will be sitting on the fence watching others introduce cost reductions and make the big profits .
Re: the posts on how big RTA conveyor is?
Saw doco last night on  Royal Hill and they call it an overhead conveyer or bridge conveyor and moves 1200t/hour.

http://m.barrons.com/articles/BL-231B-8788
Shares of global iron-ore mining giant Vale (VALE) jumped nearly 9% Monday after the company said at a Brazil conference that it would cut production..

Vale said it will withdraw 25 million metric tons of iron ore starting this month in an effort to eliminate low-quality products and improve margins rather than shut mines, Bloombergreports.
Shares of Vale are down 28% over 12 months, and have tumbled 13% over the past four weeks as the price of iron ore — its main output — bottom

Vale releases earnings on July 30; BMO Capital Markets, which has an underperform rating on the stock, expects a one-penny loss for the second quarter and explains that “The company’s profitability has been hit the hardest of the majors by the steep fall in iron ore prices, with the drag on earnings from its minor commodities (particularly coal) and rising debt levels compounding the issue.”
Analysts at BMO write:

http://m.barrons.com/articles/BL-231B-8788
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