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Vale S.A. — Capital/Financing Update 2012
Aug 23, 2012
30050_iss_2012-08-23_acdfa129-c9d7-4fcb-8c25-b258676f1ac5.pdf
Capital/Financing Update
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VALE
Press Release
Vale on financing contract
Rio de Janeiro, August 23, 2012 – Vale S.A. (Vale) informs that Banco Nacional do Desenvolvimento Econômico e Social (BNDES) approved a financing contract of US$ 3.9 billion to implement the CLN 150 Mtpy project.
The project will expand the logistics capacity of Vale's Northern System to 150 million metric tons of iron ore per year. The logistics infrastructure of the Northern System the Carajás railroad (EFC) and the rail and maritime terminals of Ponta da Madeira, in the Brazilian states of Pará and Maranhão. The disbursements will occur according to the project schedule.
CLN 150 Mtpy encompasses total investments of US$ 4.1 billion, which are being spent on the 115kilometer duplication of EFC, purchases of locomotives and wagons, and the construction of a fourth pier at the Ponta da Madeira maritime terminal. The start-up is scheduled for the first half of 2014.
For further information, please contact: +55-21-3814-4540 Roberto Castello Branco: [email protected] Viktor Moszkowicz: [email protected] Carla Albano Miller: [email protected] Andrea Gutman: [email protected] Christian Perlingiere: [email protected] Marcio Loures Penna: [email protected] Rafael Rondinelli: [email protected] Samantha Pons: [email protected]
This press release may include statements that present Vale's expectations about future events or results. All statements, when based upon expectations about the future and not on historical facts, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM), the French Autorité des Marchés Financiers (AMF), and The Stock Exchange of Hong Kong Limited, and in particular the factors discussed under "Forward-Looking Statements" and "Risk Factors" in Vale's annual report on Form 20-F.