Vale S.A. : Vale S.A. : Vale suspends implementation of the Rio Colorado
Vale suspends implementation of the Rio Colorado
Rio de Janeiro, March 11, 2013 - Vale S.A. (Vale) informs that it communicated
today to the Argentinean
government that is suspending the implementation of the Rio Colorado project,
in Argentina, as in the
current macroeconomic environment the economics of the project are not in line
with Vale's commitment to
discipline in capital allocation and value creation. In case of resuming the
implementation, preference will be
given to the project's current employees.
Vale will keep honoring the commitments related to the concessions and
searching alternatives that
enhance the economics of the project, to then evaluate its resumption.
For further information, please contact:
Roberto Castello Branco: firstname.lastname@example.org
Viktor Moszkowicz: email@example.com
Carla Albano Miller: firstname.lastname@example.org
Andrea Gutman: email@example.com
Christian Perlingiere: firstname.lastname@example.org
Marcelo Bonança Correa : email@example.com
Marcio Loures Penna: firstname.lastname@example.org
Samantha Pons: email@example.com
This press release may include statements that present Vale's expectations
about future events or results. All statements, when based upon
expectations about the future and not on historical facts, involve various
risks and uncertainties. Vale cannot guarantee that such statements will prove
correct. These risks and uncertainties include factors related to the
following: (a) the countries where we operate, especially Brazil and Canada;
global economy; (c) the capital markets; (d) the mining and metals prices and
their dependence on global industrial production, which is cyclical by
nature; and (e) global competition in the markets in which Vale operates. To
obtain further information on factors that may lead to results different from
those forecast by Vale, please consult the reports Vale files with the U.S.
Securities and Exchange Commission (SEC), the Brazilian Comissão de
Valores Mobiliários (CVM), the French Autorité des Marchés Financiers (AMF),
and The Stock Exchange of Hong Kong Limited, and in particular the
factors discussed under "Forward-Looking Statements" and "Risk Factors" in
Vale's annual report on Form 20-F.
Vale suspends implementation of the Rio Colorado project
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The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Vale S.A. via Thomson Reuters ONE
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