Vale discloses investment targets for Brumadinho

Friday, 04 October 2019 01:01:41 (GMT+3)   |   Sao Paulo

Brazilian miner and iron ore producer Vale disclosed this week its investment targets for Brumadinho, following a dam burst in January this year, which killed 270 people.

Vale said Brumadinho’s total investments for 2019, which includes dams decommissioning and investments to mitigate the damages it caused due to the incident, should cost between $900 million to $1.5 billion.

As for 2020, Vale should invest $1.5-$2.1 billion, and then $1-$1.5 billion in 2021, and $200-$500 million in 2022. Vale said it also expects its cash flow in 2019 to reach between $6.5 billion to $9.4 billion.

Capex for 2019 would total $3.6-$3.8 billion, while adjusted EBITDA should reach $10.8-$12.9 billion in 2019.

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