CVRD Board of Directors has approved the 2010 budget of 12.9 billion U.S. dollars of investment, the budget of the previous fiscal year increased 29.3%, 10 billion U.S. dollars, most of which investment is used in iron ore, and with to maintain the existing mine production, research and development and plan implementation of the project into small pellets, non-ferrous and steel areas.
2010-year investment plan to continue to reflect the company’s gradual growth strategy, in which 76.6% allocated to research and development, and green and brown to project implementation, the average over the past 5 years, 71.1% improved markedly. Expansion and new iron ore projects are mainly located in the north system and the Southeast and Southern systems, in addition to the Malaysian project. Caracas-based system to mine the north, in the next five years, CVRD add an annual capacity of 176 million tons, the 130 million tons ore from Caracas. It also includes development and construction of the southeast and south of two of the brown field project Conceição and VargemGrande, and a green project Apolo. When these projects were approved, Vale’s iron ore production capacity also will increase by 46 million tons. Expected in 2014, the company the two pillars of iron ore products will reach 450 million tons, 380,000 tons of nickel. Also, will produce 650,000 t copper, 30 million tons of coal and 3.1 million tons and 6.6 million tons of caustic potassium phosphate.
Vale’s iron ore projects include:
A northern system iron ore: iron ore mine is Vale next major source of growth capacity, the mine is the world’s richest iron ore reserves of one of the proven reserves of 72 million tons, high grade iron, impurity. Caracas mine expansion in two phases, invest 290 million U.S. dollars next year, additional annual capacity of 10 million tons; two new development in the northern part of the mine, the first half of 2012 production, annual production capacity of 30 million tons, investment 24.78 billion. Caracas 2012 so that mine will increase annual production capacity of about 40%.
Caracas SerraSul (S11D mine): The project is the history of the Vale is the world’s largest iron ore industry, green project, annual production capacity of 90 million tons, estimated to cost a total of 11.297 billion U.S. dollars. Of which 78 billion for transport infrastructure, such as iron ore and marine terminal building, so that by 2015 the system of delivery capacity of the North up to 230 million tons. 2010 will be spent 1.126 billion U.S. dollars, of which 360 million for the mining and mineral processing equipment, 766 million for transport. The project is expected to complete the second half of 2013, still needs board approval.
Caracas Railway: Caracas 100 km railway will be extended to areas associated with the South, including 605 kilometers of railway and port in PontadaMadeira build the first four terminals. The estimated cost of 2,600,000,000 U.S. dollars, is the largest port in Latin America, investment in infrastructure.
Green and brown earth group project: by the increasingly strict environmental requirements driven, future-Vale is studying the long-term consumption of pellet growth plans in Brazil or in the vicinity of ore mining consumer areas such as the Middle East and Asia build pellet plant to expand the lump ore and direct reduced iron production. The company is building the two pellet plant to Tubarao VIII and Oman plants, total capacity of 16.5 million tons. To be put into operation, Vale pellet production capacity from the current 43.5 million tons (excluding joint venture capacity) to 60 million tons. Tubarao VIII is the first 8 port Tubarao pellet plant, the second half of 2012, with an annual capacity of 7.5 million tons, costing 636 million U.S. dollars is estimated to cost 122 million U.S. dollars in 2010. Pellet Oman Sohar port construction project included in the annual production capacity of 9 million tons a pellet plant and the annual handling capacity of 40 million tons of sales center. The estimated total cost of 1.356 billion U.S. dollars, which cost 484 million U.S. dollars in 2010, second half of 2010 production.
In addition, CVRD and China’s joint venture in Zhuhai pellet plant with an annual capacity to expand from the current 1.2 million tons to 320 tons, estimated one hundred million U.S. dollars, of which 5 million U.S. dollars spent in 2010.
2, South East and the South System
Apolo: The project rated annual capacity of 24 million tons, is expected to put into the first half of 2014, cost about 2.509 billion U.S. dollars, which cost 38 million U.S. dollars in 2010. The project is subject approved by the Board.
ConceicaoItabiritos: The project includes the construction of an annual capacity of 12 million tons of iron ore plant, estimated to cost 1.17 billion U.S. dollars, of which 184 million U.S. dollars for 2010, investment in the second half of 2012 production. The project still needs approval by the Board.
VargemGrandeItabiritos: The project is building an annual capacity of 10 million tons of iron ore plant, estimated to cost 975 million U.S. dollars, which cost 79 million U.S. dollars in 2010, the first half of 2012 production. The project still needs Board for approval.
Corumbá iron ore: mine is CVRD acquired recently from Rio Tinto, which is currently being studies for the expansion, expected annual production capacity from the current 2.5 million tons to 15 million tons. The project still needs approval by the Board.
Iron distribution center: In addition to Oman projects, CVRD will be built in Malaysia in 2010, a distribution center for iron ore, the project includes large-scale suitable for 400 000 dwt barge docked in the sea ports and terminals initially annual handling capacity of 30 million tons, the future can be expanded to 90 million tons. Expected to invest 900 million U.S. dollars one, into 98 million U.S. dollars in 2010, the first half of 2013 production plans. The project still needs Board for approval. In addition, Vale is also considering to build an annual production capacity of the 9 million tons of direct reduced iron and blast furnace pellet plants.
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