Word: ores
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...from $680 million in 2002 to $9.2 billion in the first nine months of 2007, placing it as one of the top-three diversified mining and metals firms in the world. The industry has become blast-furnace hot: witness BHP Billiton's hostile $147.4 billion bid for iron-ore-rich Rio Tinto Group...
Already the world's largest producer of iron ore and one of the largest producers of nickel, Vale is also a growing force in copper, manganese, bauxite, precious metals, aluminum, coal, steel and energy. Its stock price has more than doubled in the past year, to nearly $33, and the company's market value is about $160 billion, 16 times what it was in 1997. Douglas B. Silver, an industry veteran and CEO of Colorado-based International Royalty Corp., calls Vale "the most effective giant mining company in the world," not just for its size but also for its skill...
Roger Agnelli, a 48-year-old investment banker, became CEO in 2001. He inherited a company whose historic strength lay deep in the Amazon, in the massive iron-ore deposits of Carajas. Iron ore then accounted for 75% of Vale's revenues, and Agnelli's first move was to consolidate domestically, by selling off peripheral holdings in paper and forestry (Agnelli's family business) and using the proceeds to swallow eight rival firms. This gave the company new reserves and more sway over prices to the domestic steel industry, just before the commodities boom really kicked off in 2003 with...
Portland, Ore. and San Francisco, Calif. topped the list...
...rights and the Vietnam War were the defining issues on college campuses. In the 1980s, it was apartheid. Today, that issue is climate change - or at least it will be, if Eban Goodstein has anything to do about it. An economics professor at Lewis and Clark College in Portland, Ore., Goodstein became convinced of the threat from climate change in the early 1990s. He started writing and speaking about it and eventually created the Green House Network in 1999 to train other global warming advocates - doing Al Gore's work before Gore was. But a couple of years ago, Goodstein...