Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Brazil-based diversified miner Vale on Tuesday said its board had approved an investment budget for new and sustaining projects of $10.2-billion, the fourth consecutive year in which it had reduced its capital expenditures, as it dealt with low iron-ore prices. Iron-ore prices had fallen dramatically this year owing to the slower growth of its most significant importer China and an aggressive supply push from major iron-ore producers, particularly in Australia.
Brazil-based diversified miner Vale on Tuesday said its board had approved an investment budget for new and sustaining projects of $10.2-billion, the fourth consecutive year in which it had reduced its capital expenditures, as it dealt with low iron-ore prices. Iron-ore prices had fallen dramatically this year owing to the slower growth of its most significant importer China and an aggressive supply push from major iron-ore producers, particularly in Australia.
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