Vale announced Monday that it plans to invest $14.8 billion next year, the third consecutive decline as the company focuses on lower-risk projects. The $18 billion spent on investment in 2011 was a budgetary peak.
According to a company statement, the investment plans are comprised of: $9.3 billion for project execution (with around 80 percent to be spent on expanding the company’s existing iron ore production and distribution network); $4.5 billion to sustain existing operations; and $900 million for research and development.