Vallourec: Restart of operations at the iron ore mine in Brazil
Restart of operations at the iron ore minein Brazil
Meudon (France), May 4th, 2022 – Vallourec announces that it has restarted operations partially at its iron ore mine, after having obtained the approval of the mining authorities to resume them for a period of 3 months, without using the waste pile. Under these temporary conditions, it is targeted to progressively ramp up from 70% to full capacity. Vallourec continues to, in parallel, prepare the return to normal operations, which will be subject to the validation of the stability of the waste pile by the mining and state environmental authorities.
Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec’s pioneering spirit and cutting edge R&D open new technological frontiers. With close to 17,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible.
Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service.
In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
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