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Non-Tech : The Brazil Board -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (84)	11/17/2010 4:45:20 PM
From: elmatador	Read Replies (1) \| Respond to of 2508

Vale Sees C$10 Billion Investment in Canada in 5 Years November 17, 2010, 4:07 PM EST Nov. 17 (Bloomberg) -- Vale SA, the world’s biggest iron- ore producer, said it plans to invest more than C$10 billion ($9.8 billion) in Canada over five years to increase metals and fertilizer output. The plan includes starting output at the Totten nickel mine in southeastern Canada next year and building a plant to process the metal, the Rio de Janeiro-based company said today in a statement. Vale, the world’s second-largest nickel producer, also said it’s studying a project to produce 2.9 million metric tons of potash annually in Canada. Vale is investing in mines from Brazil to Australia as rising Asian demand for metals boosts profits. Third-quarter net income more than tripled to $6.04 billion from $1.68 billion a year earlier, the company said last month. Vale rose 6 centavos, or 0.1 percent, to 48.31 reais in Sao Paulo trading today. OAO GMK Norilsk Nickel is the world’s biggest producer of nickel. To contact the reporters on this story: Bill Koenig at wkoenig@bloomberg.net To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net