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To: russet who wrote (2498)	10/21/2011 5:47:22 AM
From: elmatador	Respond to of 8253

close giant Grasberg copper/gold mine? Good for Chile. And come as a good time for Vale too! (Vale) In 2013, it will double Salobo and start up Konkola North mine in Zambia in a joint venture with African Rainbow Minerals Ltd., or ARM, to produce 650,000 metric tons of copper a year. By 2016, output is expected to hit one million tons a year, with a position in the global suppliers' league just behind Codelco, Freeport McMoran Copper & Gold Inc. and BHP Billiton PLC. And more projects are in the pipeline. There is Salobo III, Alemao, Cristalino and Polo in Brazil's Carajas region, while exploration continues in Africa's copper belt in a venture struck last year with ARM. Vale...singled out copper and coal as priorities in the mining company's diversification program, as power grid and infrastructure needs in emerging countries cry out for these minerals.