Vale Plans to Invest $21.4 Billion Next Year After Missing 2011 Targets

Bloomberg reported Vale SA (SAO:VALE5) plans to invest $21.4 billion on mining projects in 2012 after failing to meet spending targets this year.

As quoted in the market news:

TheRio de Janeiro-based company will invest $12.95 billion on project execution, $2.4 billion on research and development and $6.1 billion on sustaining existing operations, it said in a regulatory filing.

Nickel production is expected to be 300,000 tons.

Click here to read the full Bloomberg report.