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Vale Budgets $14.8 Billion for 2009 Capex by ProQuest


In a detailed press release outlining both its growth philosophy and project development planning, Vale acknowledged that the current global economic environment poses risks and said it retains options to manage its project pipeline in response to evolving market conditions, stating: Global economic activity is decelerating and faces downside risks. In a globalized world, the performance of emerging market economies-the drivers of consumption of minerals and metals-is not insulated from the cycles of developed economies, as they are affected through the various trade and financial transmission channels.

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