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Brazil’s Vale plans to invest $2.1bn in power projects by 2011

11 April 2008 – Brazilian mining giant Companhia Vale do Rio Doce SA, or Vale, plans to invest $2.1bn in projects to generate electricity by 2011.

Tito Martins, Vale’s director for corporate affairs, said the company already has invested $760m in producing electricity for its own sites.

Vale’s plans are focused on raising output from coal-fueled thermoelectric plants, Martins said.

Vale is the world’s second-largest mining company, smaller only than Anglo-Australian BHP Billiton Ltd. The Brazilian company is the leading iron ore producer and the second-largest producer of nickel.