Vale Plans to Invest $21.4 Billion Next Year After Missing 2011 Targets
Investing News Network - November 28th, 2011
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.
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.