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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (66423)	9/24/2010 4:42:37 AM
From: Chas.	Read Replies (1) \| Respond to of 219096

Sounds exactly like what Mao practiced only using different names.... let’s call it the National Endowment for Meritocracy ... Right....

To: TobagoJack who wrote (66423)	9/24/2010 1:56:22 PM
From: elmatador	Read Replies (1) \| Respond to of 219096

Vale plans Hong Kong listing TORONTO (miningweekly.com) – Shares in Vale, the world's second-biggest mining company, rose on Friday after the company said it will buy back up to $2-billion worth of shares, pay a $1-billion extraordinary dividend and plans to list on the Hong Kong Stock Exchange. Over the next 180 days, Vale will repurchase up to 64,8-million common shares and up to 98,4-million preferred shares, which represents 5% of the free floating shares of each class as of August 31. The Rio de Janeiro-based company also plans to pay $1,75-billion in dividends this year, and is proposing an extraordinary dividend in January 2011 of $1-billion, to return to shareholders the funds generated by the sale of assets to be completed by the end of 2010. Vale's American depositary shares rose 3,04% in New York on Friday morning, to $29,87 apiece. “The powerful cash generation and the excellent prospects for the performance of Vale are allowing the financing of substantial investments, focused on the exploitation of multiple opportunities of organic growth and anchored in a rigorous discipline in capital allocation, the return of capital to shareholders in a significant amount - of up to $6-billion in a period of less than twelve months - while maintaining a healthy balance sheet,” the company said in a statement. HONG KONG Vale also announced that it will list shares on the Hong Kong Stock Exchange, to reflect the increasing importance of Asia as a market for the group's products. The Asian capital market “already has a very large size and is the fastest growing market in the world, with expectations of positive effects on liquidity, shareholders base and pricing of our shares”, Vale said. The listing, which will not require any capital increase, depends on regulatory approvals, but is expected to be completed by the end of 2010, Vale said. “We will offer to investors all over the world the option to trade our shares in various time zones, in the Americas, Europe and Asia, consolidating Vale’s position as a major global company,” it added. Vale is the world's biggest iron-ore producer and second largest producer of nickel. Edited by: Liezel Hill