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Vale...World's second largest mining company...

http://206.191.6.121/newsrelease.aspx

VALE INCO ANNOUNCES NAME CHANGE TO VALE
For immediate release

TORONTO, Ontario, May 27, 2010 – Vale Inco announced the natural next step in the company’s evolution today by changing its name to Vale – a milestone that aligns it more fully with other Vale operations worldwide and reflects it position as part of the world’s second largest mining company.

Love the bit about Copper!...

http://www.vale.com/vale_us/cgi/cgilua.exe/sys/start.htm?sid=32

Copper is the third metal most utilized in the world, followed by iron and aluminum only, and it is used in diverse goods and materials that are present in our daily life such as power conductive wires and cables and electronic appliances such as TV Sets and cell phones. It is also used in sculptures and fittings in alloys with zinc (brass), tin (brasses) and silver (jewelry).

Great part of our reserves are composed of sulfated and oxidized ores and are located in the ore province of Carajás, in the state of Pará, summing up around million tons.

Besides Mina do Sossego, the first investment towards the mineral diversification of our company, recent researches show expressive reserves of copper in projects such as Copper 118 in Canaã dos Carajás. We are developing three copper projects – Salobo, Salobo expansion (Salobo II) and Tres Valles – and next year will commence development work on Konkola North. Vale also has a number of projects scheduled for development over the next few years – Salobo III, Alemão, Cristalino and Polo, all located in Carajás.

Projects and growth options will give us a viable production capacity of one million tonnes of copper a year. In the first development phase of the Salobo project in Carajás, state of Pará, nominal capacity is estimated to reach 127.000 tonnes per year (tpa) of copper contained in concentrate, with 130,000 ounces of gold as a by-product. Capex (capital expenditure) for the project is estimated at US$ 1.152 billion, including US$ 600 million to be spent in 2010. Salobo is scheduled to come on line in the second half of 2011.

In parallel, we are developing the Salobo expansion project (Salobo II), with additional production of 127,000 tpa of copper contained in concentrate. Capex is estimated at US$ 855 million, including US$ 66 million to be spent in 2010. Completion of Salobo II is scheduled for the second half of 2013.

Tres Valles, located in the Coquimbo region of Chile, will have a nominal production capacity of 18,000 tpa of cathode copper using an SX-EW processing plant (solvent extraction electrowinning). The total cost of the project is US$ 102 million, including US$ 27 million to be spent in 2010, and completion is scheduled for 2010.

Konkola North, considered the second-largest known mineral resource in Zambia’s Copper Belt, is an open cast mine with nominal production capacity of 44,000 tpa of copper contained in concentrate. Konkola North is part of our 50/50 joint venture with ARM in Africa. Vale’s total investment in the project is US$ 145 million, including US$ 50 million to be spent in 2010. Completion is scheduled for 2013. This project is subject to Board of Administration approval.

At the same time as implementing this project development work, we are also active in the field of technological innovation. The UHC, a copper processing plant located in Carajás, is a case in point and was built as an innovation initiative for optimizing the use of mineral resources. The UHC is an industrial scale plant with nominal capacity of 10,000 tpa of cathode copper, and it is designed to trial new technology – hydrometallurgy – for processing copper ore with higher impurity levels.

In addition to our operations in Brazil in the mineral province of Carajás, our nickel plants in Sudbury and Voisey’s Bay in Canada, produce more than 200 thousand tons of copper as a by-product.

In 2008, we sold 320 thousands tonnes of copper and the revenues from the sale of the metal amounted US$ 17.775 billion.

With a view to create a relation of mutual and constructive confidence, our actions are based on ethics and transparent dialogue with our public and in the management of the impacts generated by our activities.

Besides directing our investments towards programs and projects for the improvement of the infrastructure and life quality in the municipalities of Canaã dos Carajás, Parauapebas, Marabá and Curionópolis, we prioritize the qualification and selection of more than 70% of our employees in the region.

We also promote the discussion of the local economy courses, whether by means of the creation of development Forums (such as that of Canaã dos Carajás), or by means of partnering with several institutions. It is acting this way along with governmental and non-governmental organizations taking into consideration the economical, social and environmental perspectives that we contribute to the development of the State.