Brazil’s mining giant buys stake in controversial Amazon dam project

Friday, April 29th 2011 - 05:47 UTC

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Brazil giant mining corporation Vale SA, in which the government has a dominating stake position, agreed to buy a stake in a controversial hydro-power project in the Amazon and invest about 2.3 billion Real (1.5 billion USD). Read full article

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GeoffWard
This buy-in to Bel Monte should keep Dilma happy for a while.

“Vale is a large consumer of electricity and invests in generation assets based on its consumption needs . . . . . seeking to reduce operating costs on a permanent basis and minimize price and supply risks.”
It seems this is a tactic to win a permanent 400Mw - 73% of the recurrent need. This will not address the nose-dive in Vale's market valuation or its trade reduction following the progressive Dilma take-over, but - as they say - every little helps.
Apr 29th, 2011 - 11:12 am - Link - Report abuse 0
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