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Brazil's Vale: New Caledonia Nickel Mine to Restart in 4Q

RIO DE JANEIRO--Brazilian mining heavyweight Vale SA (VALE, VALE5.BR) will restart its VNC nickel project in New Caledonia in the fourth quarter, the company's director of base metals and information technology said Thursday. Speaking during a conference call with analysts and investors, Vale's Peter Poppinga said that "we are going to repair the acid plant and start it up at the end of [the third quarter] and start production in [the fourth quarter]." Nickel production at VNC was shut down in May 2012 after an accident in the operation's acid plant. An investigation pointed toward a technical defect that caused a water leak at the plan, leading to dilution of the acid and causing corrosion at the plant, the company said previously. The ramp-up of the Onca Puma nickel project in Brazil is also halted because of issues with two ovens, Mr. Poppinga said. "We're still assessing the extent of repairs and time required to perform them," Mr. Poppinga said, adding that the mine will likely be shuttered for "some months." The two ovens were shut down on May 28 and June 22. Mr. Poppinga called the ramp-up of operations at the two nickel projects "very challenging." -Write to Jeff Fick at jeff.fick@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Companhia Vale Do Rio Doce (VALE)
DateTimeHeadline
12/06/201606:02:41Report of Foreign Issuer (6-k)
12/05/201617:23:43Report of Foreign Issuer (6-k)
11/30/201608:34:03Report of Foreign Issuer (6-k)
11/29/201617:20:00Brazil's Vale Hopes for Samarco Mining Operations Restart in...
11/29/201616:24:36Report of Foreign Issuer (6-k)
11/29/201614:40:00Brazil's Vale Hopes for Samarco Mining Operations Restart in...
11/29/201614:34:00Brazil's Vale Hopes for Samarco Mining Operations Restart in...
11/29/201612:50:00Brazil's Vale Hopes For Samarco Restart in Mid-2017
11/29/201607:43:12Report of Foreign Issuer (6-k)
11/28/201617:16:00Brazil's Vale Proposes $250 Million Dividend; To Pay in December
11/28/201616:48:33Report of Foreign Issuer (6-k)
11/25/201617:17:44Report of Foreign Issuer (6-k)
11/25/201607:17:18Report of Foreign Issuer (6-k)
11/25/201607:00:35Report of Foreign Issuer (6-k)
11/24/201616:58:00Brazil's Vale Offers Samarco $115 Million in Short-Term Credit...
11/18/201615:20:00Brazil Judge to Hear Charges in Samarco Dam Collapse
11/18/201614:31:00Brazil Judge to Hear Charges in Samarco Dam Collapse
11/17/201617:20:00Probe Over Payments Led Rio Tinto to Fire Top Officials
11/16/201607:25:53Report of Foreign Issuer (6-k)
11/14/201606:18:24Report of Foreign Issuer (6-k)

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