Vale Sketches Out $7B Plan For Africa Expansion

Law360, New York (February 7, 2013, 4:50 PM EST) -- Brazilian mining giant Vale SA will pump $7 billion into efforts in seven African countries over the next several years to beef up its coal, iron ore, bauxite and copper businesses and give them a wider geographic reach, according to a Wednesday report.

Rafael Tiago Juk Benke, the company's head of global corporate affairs, sketched out the plans at the Mining Indaba conference in South Africa. He did not offer a specific outline or timetable, but said Vale will hone in on coal in Mozambique, iron...
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