Vale says sees $5 billion of capex in 2020, another $5 billion in 2021
Reuters
Published Dec 02, 2019 13:21
Vale says sees $5 billion of capex in 2020, another $5 billion in 2021
(Reuters) - Brazilian iron ore miner Vale (SA:VALE3) said on Monday that it expects capital spending to total $5 billion in 2020 and 2021 as it ramps up technologies aimed at reducing the use of tailings dams after two deadly accidents in four years.
The company also expects iron ore production to recover in the coming years from a sharp drop after the Brumadinho dam burst, hitting between 390 million and 400 million tonnes in 2022, executives said in an investor presentation in New York.
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Written By: Reuters
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