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Vale to invest in projects around the world
16 March 2011: Brazil based mining company Vale intends to invest $9 billion (approx Rs 40,500 crore) in dozen countries around the world by 2014.
The plans call for investments in various countries including Argentina, Peru, Canada, Guinea, Zambia, Mozambique, Oman, Indonesia and Malaysia, as well as in Brazil, where the firm is preparing a huge expansion of a deep-water port on the northern coast.
In Argentina, Vale’s projects include exploiting a potassium mine which just this year will require an investment of $1.2 billion. The mine is reportedly one of Vale’s biggest development projects up through 2014 and will have, during its first phase, a production capacity of 2.4 billion tpa of potassium.
Source: Thaindian