Last week, Vale S.A. (VALE) announced a strong set of operational and financial results for the third quarter of 2009, returning to growth after the impact of the global financial shock. The improved performance reflects the company's underlying earnings power based on its world-class assets and strategic position, its efforts to weather the global downturn and the broadening of the economic recovery.  Vale continues to pursue sustainable shareholder value creation, implementing its growth strategy with tight discipline in terms of capital allocation, in line with its long-term vision for the mining industry.  Operating revenue was $6.89 billion, down 43% from the previous year's $12.12 billion. Revenue from ferrous metals was $4.37 billion, while revenue from nonferrous minerals reached $1.99 billion. EBITDA was $3.01 billion compared to $6.37 billion in the year ago quarter.  Vale posted a net profit of $1.68 billion compared to $4.82 billion ...

Yesterday, Brazilian miner, Vale S.A. (VALE), announced the resumption of its work in many of its idled mines. The mines were closed when the company experienced a considerable decrease in demand from Japanese and European steelmakers due to the economic crisis. The economic downturn led the company to reduce its production by as much as 30%. However, based on the belief that the market conditions will be more reasonable in the coming months, VALE is reopening certain operations. Even though the overall economic environment remains quite challenging, it seems that demand for metals has already reached the bottom, particularly in Asia, and is beginning to reverse. The company restarted its Agua Limpa iron ore mine, which is expected to produce 5.4 million tons of iron ore by the end of 2009. This is 17% above its 4.6 million tons of production in December 2008. During ...

Cliffs Natural Resources Inc. (CLF) stated that its subsidiary United Taconite in Minnesota plans to ramp up production of iron ore pellet for the rest of 2009 with a moderate increase in steel demand in the last couple of months.

In its recent release, Cliffs announced plans to produce 15 million tons of iron ore in North America for the full year. The company plans to increase production from this month through October.

Mining operations will increase at the Thunderbird Mine in Eveleth, Minnesota this month and production will increase at the concentrator portion of the facility, located at the Fairland plant in Forbes, Minnesota in October. Full start-up of the Line 1 furnace is expected in November, which was idled in October last year.

The anticipated increase in production will allow more than 400 hourly workers to progress toward a 40-hour work week. United Taconite has been operating under a 32-hour

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Brazilians used to joke that their country was the country of the future – and always would be because a new crisis seemed to crop up every time the economy came close to fulfilling its potential.

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Vale SA (VALE), the world’s biggest iron-ore producer, yesterday announced its plans to offer two series of US$65.7 million convertible notes due in 2012 in the global capital markets through its wholly-owned subsidiary Vale Capital II.   In 2012 or anytime earlier, the first series of VALE-2012 notes will be compulsorily converted to American Depositary Shares (ADSs), each representing one common share of Vale, and the second series of VALE-2012 notes will be converted to ADSs, each representing one preferred class A share of Vale. Together, the ADSs will represent a total of 18.4 million common shares and 47.3 million preferred class A shares of Vale. The whole operation is expected to bring some R$$2 billion (US$1.0 billion) to Vale, which it will use to meet general corporate needs.   The uncertainty in the recovery of the global economy is affecting world metal prices. Last day base ...

MFS New Endeavor A (MECAX) was incepted in September 2000. The investment seeks capital appreciation.

The fund focuses on small capitalization stocks but is designed to be diversified by sector with the flexibility to invest across industries and styles. It may enter into short sales and invest in derivatives.

Camille H. Lee has managed the fund since December 2005. Lee has 22 years of industry experience. The fund has an expense ratio of 1.83%.

MFS Emerging Markets Equity A (MEMAX) seeks capital appreciation. The fund normally invests at least 80% of net assets in equity securities of issuers that are tied economically to emerging-market countries.

This regionally focused fund has the flexibility to invest across sectors, countries, and market capitalizations. As of February 2009, its portfolio turnover was 94%.

Brazilian Petroleum Corp. (PBR), Teva Pharmaceutical Industries Ltd. (TEVA) and

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