Vale CEO Sees Copper Growth Driven by Project Pipeline Over M&A

Vale SA Chief Executive Officer Gustavo Pimenta said the company “fell behind in the copper race” and will seek to regain ground by accelerating the development of its own mining assets, rather than looking at potential deals.

“Our opportunity lies more in developing our mining potential than in possibly making a transaction,” Pimenta said Wednesday on the sidelines of a conference in Sao Paulo. “Our potential for product development is greater than that of our competitors.”