Image source: The Motley Fool. Vale S.A. (NYSE: VALE)Q2 2022 Earnings CallJul 29, 2022, 10:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood morning, ladies and gentlemen.
Brazil's Vale SA said on Friday it is running into delays as it seeks environmental licenses for new projects due to "more sophisticated" requirements. Vale cited slower regulatory approvals in reducing its 2022 iron ore production outlook to 310 million to 320 million tonnes from 320 million to 335 million tonnes. "Environmental licensing processes in Brazil and actually all over the world are getting more sophisticated," said Vale's head of ferrous metals, Marcello Spinelli, in an earnings call with analysts.
(Bloomberg) -- Vale SA struggled more than expected with deteriorating iron ore conditions last quarter, delivering earnings that trailed estimates on rising costs and weaker prices of the steelmaking ingredient.Most Read from BloombergThe Crypto Collapse Has Flooded the Market With Rolex and PatekAlito Decries 'Hostility to Religion' in First Public Remarks Since Abortion Decision Rockstar Games Cleaned Up Its Frat-Boy Culture — and Grand Theft Auto, TooBiden, Xi Plan In-Person Meet as Taiwan T