08/06/2015 15h01

Brazil's Vale estimates 2015 investment of $8-8.5 bln

Reuters

Aug 5 Brazilian miner Vale expects to invest $4 billion in the second half of 2015 and sees total investments of between $8 billion and $8.5 billion in the full year, according to a presentation on Wednesday.

Vale had estimated investments of between $8 billion and $9 billion in 2015 on June 24, as it tries to reduce capital spending in the midst of a price slump in iron ore.

The miner also estimated on Wednesday nickel production of 176,000 tonnes in the second half of 2015 and 303,000 tonnes for the full year.