Talk:Vale Colombia
http://saladeimprensa.vale.com/en/release/interna.asp?id=18750
4/1/2009 Vale concludes the acquisition of Colombian coal assets Vale announces that it concluded the acquisition of the export thermal coal assets of Cementos Argos S.A. (Argos) in Colombia for US$ 305.8 million.
The assets acquired are: (a) El Hatillo coal mine, under ramp up and with nominal capacity of 4.5 million metric tons per year, located in the Cesar department; (b) Cerro Largo, a coal deposit under exploration; (c) a minority stake in the Fenoco consortium that owns the concession and operation of the railroad linking the coal operations to the SPRC port; and (d) 100% of the concession of the Rio Cordoba - SPRC port in the Caribbean coast of the Magdalena Department.
Since Colombia is the world's third largest exporter of high-quality thermal coal, given its low level of sulfur and high calorific value, Vale is seeking to build a coal asset platform in the country to enhance our growth options in the coal business.
Investment in the coal business is an important part of Vale's growth strategy. We have coal operations in Australia, in the regions of Hunter Valley and Bowen Basin, and two joint ventures in China, which own a coal mine and a coke plant. Vale is developing Moatize, a large coal project in Mozambique, and has other coal projects in more preliminary stage of development in Australia and Mongolia.
http://saladeimprensa.vale.com/en/release/interna.asp?id=17997 Releases 1/31/2008 Vale on investments in Colombia Companhia Vale do Rio Doce (Vale) would like to clarify that despite press comments about investments in Colombia, such options had not been analyzed by its senior management and as a consequence no decision had been made about them.
In accordance with its long-term strategic plan, Vale has been looking for opportunities to exploit its large and high-quality bauxite reserves. In order to make it feasible, a key condition is the availability of low-cost energy, a factor that ultimately will define the location of an eventual new aluminum smelter.
In line with its strategic goal, Vale, with the cooperation of the Colombian government, has been evaluating some power generation projects in the country. However, there was no technical definition about any specific project yet.
As one of the largest producers of coal in the world, Colombia has been indicating its interest in attracting investments to its coal business. On the other hand, Vale became a coal producer with the acquisition of Australian operations in 2007, and it plans to develop the Moatize project in Mozambique as well as it is performing a feasibility study of the Belvedere coal deposit in Australia. In addition, the Company is building a coal-fired thermal plant in Barcarena, state of Pará, Brazil.
As usual, these investment options will be duly analyzed by the Company's management. If and when there is a decision pursuant to the high standards of transparency always practiced by Vale, it will be made public.
