Brazilian mining giant Vale approved a 2015 investment of $ 10.2 billion, down 30.9 percent on an annualized basis. Within this amount, $ 6.4 billion is planned to be invested in new projects, and the remaining $ 3.8 billion will go to support existing operations.
Vale's 2015 operating budget will fund operations that include: equipment replacement; construction and expansion of landfills; health and safety; and corporate social responsibility.
Major projects include the expansion of integrated iron ore operations at Carajas in northern Brazil. This activity will receive $ 3.7 billion in investment for the commissioning of two mines and the logistics expansion of the rail network. Vale will also spend $ 659 million to complete Itabirites projects in southeastern Minas Gerais, which aim to partially replace capacity, increase production and improve quality in iron ore production in the Southern Systems.
Karajas is set to produce 90 million tons /year by 2016, while the Itabirites system is set to reach 53 million tons /year in the second half of 2015. The logistics project is expected to reach a final capacity of 230 Mtpa by 2018. At the same time, for the fourth year in a row, Vale has been cutting capital expenditures, focusing only on world-class projects.
Vale's 2015 investment budget will be $ 10.2 billion
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Azovpromstal® 3 December 2014 г. 13:59 |
