Vale CEO Says Iron Ore Demand in China Will Stay Strong

Reuters reported Vale SA (SAO:VALE5) CEO says China’s demand for iron ore will continue to grow despite expectations the country’s industry is waning.

As quoted in the market news:

To help supply that demand, Vale expects to invest more than $50 billion to expand iron ore, nickel, copper, fertilizer, coal and other mining output. Of that, $35 billion will be over four years to complete its 20 biggest projects, Ferreira said. Vale has already spent $13.5 billion on those mines.

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