| Vale Unveils Capital Expenditure Budget for 2015 | |
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The investment budget for 2015 was finally announced by Vale S.A.’s (VALE) Board of Directors on Dec 2, 2014. Reducing its capital expenditure for the fourth consecutive year, the company has allotted $6.358 billion for financing its upcoming growth projects, while $3.809 billion is approved for funding existing trade operations. The 2015 capital budget indicates the company’s continued focus on global business projects.
Project Implementation
Vale has fixed $6.358 billion for its project execution purposes. However, approximately 71% of this amount will be used for the company’s iron ore projects. Through the CLN S11D and S11D projects, Vale aims to expand its iron ore processes in Carajas. Furthermore, with the allotted fund, the company aims to complete its Itabirites projects. All such measures by the company are aimed at enhancing the quality and production volume of its primary mineral.
Supporting Capital
For 2015, Vale’s sustaining capital resources aggregate $3.809 billion. This fund will be utilized for five major functions namely, equipment replacement, construction, building tailing dams and waste dumps, administrative and others. Certain corporate social responsibility (“CSR”) initiatives and health & safety benefits will also be subsidized with this capital.
Moving Forward
Vale is a reputed multinational company in the global metal and minerals industry. Its management believes that demand for steel will globally rise in the near future, thereby driving the worldwide requirement for iron ore. Steady economic growth rates in European Union, the U.S. and China are expected to support such outcomes in the market. Considering these aspects, Vale aims to maximize its iron ore productivity volumes by prudently allocating the 2015 capital budget. However, pellets and coal are anticipated to be the next best offerings of the company in the upcoming quarters.
With a market capitalization of $42.93 billion, Vale is currently carrying a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry include Alcoa Inc. (AA), Banro Corporation (BAA) and Dominion Diamond Corporation (DDC). All the three stocks hold a Zacks Rank #2 (Buy). Read the Full Research Report on VALERead the Full Research Report on AARead the Full Research Report on BAARead the Full Research Report on DDCZacks Investment Research
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Banro Corporation
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PRODUCER |
CODE : BAA |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Banro is a gold producing company based in Canada. Banro holds various exploration projects in Congo Dem. Rep. of. Its main assets in production are LUGUSHWA and KAMITUGA in Congo Dem. Rep. of and its main assets in development are TWANGIZA and NAMOYA in Congo Dem. Rep. of. Banro is listed in Canada and in United States of America. Its market capitalisation is US$ 120.8 millions as of today (€ 102.0 millions). Its stock quote reached its highest recent level on August 31, 2007 at US$ 9.96, and its lowest recent point on May 26, 2017 at US$ 0.07. Banro has 1 098 579 968 shares outstanding. |