Boston, MA 10/02/2013 (wallstreetpr) – Vale SA (NYSE:VALE) is a metal and mining company, based in Brazil. The company operates its business operations in four segments, i.e. bulk material which involves extraction of manganese, iron-ore, ferroalloys, and production of pellet; basic metals, which involve production of non-ferrous metals; fertilizers, which include production of phosphate, potash and nitrogen; and logistic services which include cargo transportation for third parties. The company actively participates in investments in joint ventures and is also associated with other businesses. It operates its global business operations in more than 388 countries all over the world with the help of 18 subsidiaries and 3 jointly controlled entities. But the activity of mineral exploration is only carried out in 21 countries all over the world. Due to the depreciation in local currency and reduction in sales of iron-ore, the profit of the company fell 84% in the in the 2Q13.
A terrific crash and explosion of the fuel tanker at Mona Vale, on the northern beach of Sydney, resulted in death of two males, six people were injured and thousands of litres of fuel was destroyed. On Oct 1, 2013, there were multiple explosions when people noticed a fuel tanker carrying 18,000 litres of fuel rolling on its sides collided with other cars on the road and burst into flames on the Mona Vale Road on Sydney. It was believed that the explosion was caused due to a mechanical fault which caused the tanker to overturn after loss of control, and thus exploded. Emergency crews helped clean the fuel spill on the road and the surrounding area. And energy and traffic authorities were working on repairing powerlines. An area of 1.5 km within the radius of the area of crash was found to be contaminated by the fuel spill. But the authorities assured that though toxic, the contamination would not pose any form of threat to the residents.
Though the damage to life as a result of the crash was negligible, yet the massive fire caused a vast damage to the environment, as it destroyed trees, buildings, surrounding area and led to pollution.
