“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Saturday, October 18, 2008

Vale Board Approves $14.2 Billion 2009 Spending Plan

By Jeb Blount

Oct. 16 (Bloomberg) -- Cia. Vale do Rio Doce, the world's largest iron-ore producer, plans to spend $14.2 billion in 2009 to expand mining operations worldwide even as the company expects the global economy to slow in the coming quarters.

The 2009 plan, which includes investments in South America, Asia, Africa and the Middle East, is part of a larger effort to increase iron-ore output 69 percent to 500 million metric tons a year by 2015, the company said today in a statement. Vale also plans to expand nickel, coal, copper and alumina operations.

The global credit crisis has stoked investor concern that the world economy may be headed for recession, undermining commodity prices. Still, metals demand will continue to grow in the longer term along with emerging market economies, Vale said. 

"The financial shock and the ensuing credit supply slowdown imposes an additional and important restriction to growing the supply of minerals and metals, favoring large-scale, low-cost producers such as Vale,'' the statement said. 

Vale fell 2.1 percent in Sao Paulo trading before the plan was released. The stock has slumped 29 percent in the last month compared with the 21 percent decline of the Bovespa index that tracks the most-traded stocks on the Sao Paulo exchange. 

Of the total planned spending, $11.7 billion, or 82 percent, will be to complete existing mines and projects, with $3 billion for transport such as railways and ports, it said. Investment in non-ferrous metals such as nickel, copper and aluminum will receive $4.79 billion, and iron-ore is budgeted at $4.2 billion. 

Countries with projects include Brazil, Canada, Indonesia, Chile and Peru, as well as nations in Africa and the Middle East, it said. Vale plans to boost nickel output to 450,000 tons by 2015, 81 percent more than in 2007. 

``The rapid increase of the consumption of minerals and metals are an integral part of the long-term economic development,'' the statement said. 

To contact the reporter on this story: Jeb Blount in Rio de Janeiro at jblount@bloomber.net

No comments: