Vale S A - VALE STOCK NEWS

Vale Base Metals signs a Definitive Agreement with PT Mineral Industri Indonesia and Sumitomo Metal Mining Co., Ltd. to divest approximately 14% pro-rata combined equity interest in PT Vale Indonesia Tbk. The transaction aims to meet Indonesia's ownership requirements by December 2025, with MIND ID becoming the largest shareholder in PT Vale. VCL to receive US$160 million in cash upon closing.

Wheaton Precious Metals Corp. (WPM) announces successful completion of Salobo III expansion project throughput test, surpassing expectations and demonstrating increased reliability. VBM confirms average throughput of 32.3 Mtpa, exceeding the required 32 Mtpa for 90 days. Wheaton International to make a payment of $370 million to Vale Base Metals for completion of the first phase of the expansion project. The company is well-positioned to fund the expansion payment with $834 million cash on hand, available credit, and strong operating cash flows.

Vale has successfully ensured the safe return of all 39 employees from its Totten Mine in Sudbury, Ontario, after a shaft damage incident. The employees were underground since Sunday but were safely evacuated with the help of Vale's rescue team through a secondary egress ladder system. CEO Eduardo Bartolomeo expressed gratitude towards the rescue team and emphasized the priority placed on employee safety. An investigation will follow to understand the circumstances of the incident and to prevent future occurrences.

Vale reports the successful ascent of employees from the Totten Mine in Sudbury, Ontario, following an incident where 39 workers were trapped underground due to shaft damage. Employees utilized a secondary egress ladderway system to exit, with the first 19 returning to the surface early this morning. All personnel are in good health, and the exit was facilitated by Vale’s mine rescue team and Ontario Mine Rescue. Management expressed gratitude for the team's efforts and the affected employees' patience during this incident.

Vale S.A. has selected Nextracker to supply NX Horizon™ solar trackers for its 766 MW Sol de Cerrado solar project in Minas Gerais, Brazil. This project, set to begin construction this year and complete in 2022, aims to provide 13% of Vale's energy needs and reduce GHG emissions by up to 136,407 tons of CO2 annually. Vale targets 100% renewable energy for its Brazilian operations by 2025 and carbon neutrality by 2050. The partnership emphasizes commitment to sustainability and effective project execution backed by Nextracker's expertise.

On April 3, 2020, Vale launched the COVID-19 Challenge in Canada, offering up to USD $1M to support innovative solutions against COVID-19. Out of nearly 1,800 global submissions, 11 solutions were selected for funding, including two from Northern Ontario. FloSonics Medical received funds to enhance its wearable hemodynamic monitor for COVID-19 patients, while high school students from North Bay developed a UV sterilizer for PPE. The initiative showcased collaborative efforts in addressing critical health challenges globally.