Vale Reinforces Its Focus on World-Class Investments in London
OREANDA-NEWS. Three days after presenting Vale's business strategy and investment plan in New York (the replay is available here), our board of directors met with European capital market professionals at NYSE Euronext's office in London.
Divided into two meetings - one addressed to shareholders and one to journalists - Vale's senior executives provided details on our strategy of focusing on a smaller number of projects, “which will allow a greater cash flow,” confirmed Luciano Siani, Vale's CFO and executive director of Investor Relations. Click on the video to the side to watch an excerpt from Siani's presentation.
CFO comments the changes on Vale's projects portfolio: less projects and more return
“A downward trend is expected for the coming years, unless we find new world-class projects,” Siani explained. Our investment budget for 2014 (read more about Capex) will drive capital to five main projects, as shown in the table below. By focusing on priority projects and the ramp-up of new operations, our company will be able to maximize shareholders' returns.