Brazilian miner and iron ore producer Vale told investors and analysts on Wednesday it may increase ferrous EBITDA by $1.2 to $2 billion in 2020, when compared to 2017. The company said it will focus to achieve financial solidity, increasing the performance of assets, while raising EBITDA levels.
Within the iron ore business, the company said it will focus on margins, premium products and “flexibility.” As for basic metals, the company plans, among other things, to increase copper output. In coal, it will improve mines and logistics.
Vale said Capex levels will remain “low,” even incorporating new growth projects.
The miner said total investments for 2018 will remain at $3.7 billion, and then decrease to $3.5 billion in 2019, and $3.3 billion in 2020. For 2021 and 2022 it aims to invest $2.8 and $2.5 billion, respectively.
Vale’s new estimates are slightly lower than the forecast it provided in December 2017, when it said Capex for 2018 would reach $3.8 billion, and $4 billion in 2019.