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Vale's investment in China to remain high
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Mr. Jose Carlos Martins, Executive Officer for Ferrous Minerals of mining giant Vale said on this Wednesday that the company’s investments in China will remain high even though there are doubts about economic slowdown in the country.
Martins says that the use of steel in China will reach peak in 2030, when the country’s urbanization reach to 80%. Based on this prediction, he thinks the demand for iron ore should remain warm, and he expects the company’s sales in Orient would reach to 90% from 70% in coming years.
Besides, he points out that the iron ore prices should stay at current levels and not fall too much since there are high-cost mines in operations now to support the prices.
News Date
6/29/2012 8:41:13 AM
reported by
Raul Lee
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