Vale to meet investment target for 2019

Tuesday, 06 August 2019 00:44:50 (GMT+3)   |   Sao Paulo

Brazilian miner and iron ore producer Vale plans to meet its investment target of $4 billion for 2019, according to CFO Luciano Siani Pires. In a call with analysts, the executive said Vale should increase investments in H2, as compared to H1.

Vale said investments in Q2 reached $730 million, and $611 million in Q1, totaling $1.3 billion. Out of Vale’s $730 million investments in Q2, $130 million went to project execution and another $600 million for maintenance of operations, from which $67 million are for replacement projects.

Siani also said Vale’s full production recovery should come in two or three years from now.

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