Brazilian diversified mining major Vale has confirmed that its portfolio includes investments of $7.7-billion in projects in nine African countries. Speaking at a recent seminar on Africa hosted by Brazil’s National Economic and Social Development Bank (better known by its Portuguese initials, BNDES), Vale CEO Murilo Ferreira reaffirmed the importance of Africa in his company’s strategy.
He highlighted that Vale continued to be interested in the continent and specifically cited coal and copper as sectors in which Vale continued to make investments in Africa. These sectors have the potential to grow Vale’s African business, he pointed out.
“For example, our investment in Mozambique is high –” said Ferreira, “equivalent to a third of the gross domestic product of that country.” Read more here...
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