Brazilian miner and iron ore producer Vale plans to invest $5 billion in 2020, the company said this week in a presentation to investors in New York. Vale said it plans to spend $5 billion in 2020, $5 billion in 2021 and $4.5 billion “on average” in the next following years.
The company also said several of its businesses, including joint ventures and steelmaking projects, are “under evaluation,” as the company seeks a “lean” portfolio. Vale said it is looking for a “greener” portfolio in the long-term.
“Introducing HBI and green pig iron might be an alternative for clients meet their CO2 reduction targets. (It) may be an opportunity for (the company) to explore new markets and regions, improving Vale’s competitive advantages,” the company said.