Brazilian miner and iron ore producer Vale aims to invest $4 billion in 2019, according to a company’s presentation for investors in New York late last week.
Vale’s forecasted investments for 2019 are slightly up from $3.7 billion expected investments for 2018, said the company’s executive, finance and investor relations director, Luciano Siani Pires. He added that Vale plans to invest $4.2 billion in 2020, $3.7 billion in 2021, and $3.2 billion in 2022.
The Vale presentation also said the company is “yet to define” its investment strategy for Brazilian slab producer Companhia Siderurgica do Pecem (CSP). CSP is a joint venture between Vale, Dongkuk and Posco.
Pires said Vale expects to “build positive results” in a “consistent way.” The company should be EBITDA-positive by October next year. A recent KPMG audit for Vale indicated there was a “relevant uncertainty” over CSP’s capacity to continue operating.