Brazil’s Vale to invest record $24 bln in 2011

Reuters.com reports that Vale (NYSE:VALE) intends to invest $24bln in 2011 in an effort to diversify towards pricier metals.

The story is quoted as saying:

Our budget is consistent with our long-term view of demand and market fundamentals for minerals, metals and fertilizers,” Investor Relations’ Director Roberto Castello Branco said on an
earnings conference call.

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