Arab Today, arab today brazil\s vale to invest 215 bn in 2012
Last Updated : GMT 21:55:53
Arab Today, arab today
Arab Today, arab today

Brazil\'s Vale to invest $21.5 bn in 2012

Arab Today, arab today

Arab Today, arab today Brazil\'s Vale to invest $21.5 bn in 2012

Rio De Janeiro - AFP

Brazilian mining conglomerate Vale, the world\'s leading iron producer, announced Monday investments of $21.5 billion (16 billion euros) for 2012. It said the investment budget package includes $12.9 billion in capital expenditures for project execution, $2.4 billion for research and development and $6.1 billion for sustaining existing operations. \"Based on a long-term view of global minerals and metals markets, the budget is aligned with our vision of becoming the best global natural resources company in long-term-value creation,\" the company said in a statement. It said the 2012 budget would include $918 million to fund the global mineral exploration program, $848 million for conceptual, pre-feasibility and feasibility studies and $591 million to be invested in new processes, technological innovation and adaptation. Vale said its mineral exploration program would involve initiatives in the Americas, Africa, Asia and Australasia. It said expenditures would be earmarked to boost reserves of iron ore ($282 million) and nickel ($202 million) and explore opportunities in copper $156 million), coal ($75 million) and potash and phosphate rock ($50 million). Among key challenges for the mining industry next year, Vale cited environmental licensing, human capital constraints, cost pressures and longer lead times. In the third quarter of 2011, Vale posted a net profit of $4.9 billion, down 23.5 percent from the previous quarter due to a sharp appreciation of the real in relation to the dollar during the year. Last year, Vale achieved the best results in the history of the global mining industry last year, with net profits of $17.3 billion. Its business volume reached $46.4 billion and its production rose 29.4 percent to 308 million tons of iron ore. In May, Roger Agnelli stepped down as Vale chief and was replaced by former company executive Murilo Ferreira. Agnelli\'s departure came after weeks of rumors that the Brazilian government, a major shareholder, had demanded change at the top after Vale laid off 1,300 workers in Brazil and abroad in 2008. Also in May, Vale opened a new $1.7 billion coal mine in Mozambique, tapping the southern African country\'s thermal and coking coal reserves of around 23 billion tonnes.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brazil\s vale to invest 215 bn in 2012 Arab Today, arab today brazil\s vale to invest 215 bn in 2012

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday