Investment

Brazil's Vale to invest $10.2 billion in 2015, down 30.9% on 2014

Brazilian mining giant Vale's board of directors has approved a $10.2 billion investment budget for 2015, down 30.9% on the year, the company said Tuesday.

Platts
03/12/2014 19:55
Visualizações: 1332 (0) (0) (0) (0)

Brazilian mining giant Vale's board of directors has approved a $10.2 billion investment budget for 2015, down 30.9% on the year, the company said Tuesday.

 

Within that total, $6.4 billion is slated for project execution, with the remaining $3.8 billion to sustain existing operations, Vale said in a statement.

 

Vale in the third quarter said it expected its 2014 spending to be $13.8 billion, comprised of $9.3 billion for project execution and $4.5 billion for sustaining existing operations. The company also estimated a $900 million investment for research and development.

 

"This is the fourth consecutive year in which Vale reduces its capital expenditures, maintaining capital discipline and focusing only on world class projects," it said.

 

Iron ore projects are responsible for 71% of Vale's project execution budget, it said.

 

The main projects are the expansion of integrated iron ore operations in northern Brazil's Carajas. This work would receive $3.7 billion investments in both mine S11D operations and logistic railway-port expansion CLN S11D. Vale would also spend $659 million to complete the Itabirites projects in southeastern Minas Gerais state, targeting "the partial replacement of capacity, increasing production and quality improvement in the iron ore production from the Southern and Southeastern Systems."

 

Vale's Carajas S11D is set to produce 90 million mt/year by 2016, while the Itabirites system, including Conceicao Itabiritos II, Vargem Grande Itabiritos and Caue Itabiritos projects, are set to reach production of 53 million mt/year in the second half of 2015, it said.

 

Logistic project CLN S11D is expected to reach a final 230 million mt/year capacity by 2018, the company said.

 

Vale's operating budget for 2015, it said, will "fundamentally provide funding" for operations, mainly equipment replacement; building and expanding waste dumps and tailings dams; health and safety; and corporate social responsibility.

 

Most Read Today
see see
Rio Pipeline & Logistics 2025
Rio Pipeline & Logistics 2025 Opens with Stronger Integr...
09/09/25
Rio Pipeline & Logistics 2025
At Transpetro, Social Responsibility Initiatives Support...
09/09/25
Rio Pipeline & Logistics 2025
DNV participates in Rio Pipeline & Logistics 2025
09/09/25
Rio Pipeline & Logistics 2025
Construtora Elevação Brings Innovation, Efficiency, and ...
09/09/25
ANP
A\Sense wins ANP technology challenge with advanced opti...
09/09/25
Rio Pipeline & Logistics 2025
Rio Pipeline & Logistics 2025 kicks off today, September 9
09/09/25
Minas Gerais
With R$ 314 million investment, pioneering macaúba biofu...
03/09/25
Recognition
Supergasbras earns Gold Seal in the Brazilian GHG Protoc...
03/09/25
FIRJAN
Brazilian industry records four consecutive months witho...
03/09/25
Copel
EPE President presents future outlook for the power sector
03/09/25
FIRJAN
Together with CNI, Firjan launches business mission in t...
03/09/25
Gulf of America
C-Innovation completes successful decommissioning projec...
28/08/25
Equatorial Margin
Rig chartered by Petrobras arrives in Amapá to take part...
19/08/25
FIRJAN
Rio gains Firjan SENAI Metalworking Reference Center
19/08/25
RD&I
CEPETRO develops for Petrobras a tool that integrates mu...
19/08/25
Pre-Salt
Búzios Field surpasses the record level of 900 thousand ...
19/08/25
Logistics
PetroReconcavo and Dislub build an unprecedented oil out...
19/08/25
IBP
NAVE Program advances with 21 energy sector startups
19/08/25
International Event
The 3rd Annual World ReAM Show Returns to Dubai, Bridgin...
13/08/25
Sustainability
ATPI Expands Global Sustainability Portfolio with Brazil...
06/08/25
Results
ANP releases consolidated 2024 data in English for the r...
29/07/25
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.

2