Vale’s 2018 capex estimated at $3.8 bln; debt target set at $10 bln

摘要

Brazilian miner Vale will reduce its capex for 2018 to $3.80 billion fromthe $4.10 billion estimated capex for 2017, it announced onWednesday December 6.“We are focused on a rigorous capital allocation process based onreturns,” chief executive officer Fabio Schvartsman said at Vale’sannual investor day at the New York Stock Exchange (NYSE).“Vale will generate more value for shareholders than its globalmining peers,” he added.