Replies to post #7736 on The Rising Influence of Rising Affluence

[DewDiligence]

VALE announces 2014 cap-ex budget of $14.8B:

http://www.sec.gov/Archives/edgar/data/917851/000110465913087791/a13-25431_16k.htm

Of the $14.8B total, $9.3B is for new projects, $4.5B for maintenance, and $0.9B for R&D.

Consistent with the industry-wide impetus to keep supply from outpacing demand, VALE’s annual cap-ex has declined each year since peaking at $18B in 2011.

[DewDiligence]

More on Rio Tinto’s reduced cap-ex budget:

http://online.wsj.com/news/articles/SB10001424052702304854804579235362464146786

Rio Tinto will slash its capital-expenditure budget to US$8 billion in 2015 from about $14 billion this year and $11 billion in 2014, Chief Executive Sam Walsh said at an investor briefing in Sydney.

Rio Tinto is the world's second-biggest producer of iron ore. Mr. Walsh [CEO] said the company's 2012 spending of more than $17 billion would now likely be "a peak for all time."

[DewDiligence]

CLF reaches labor pact with Quebec workers:

http://finance.yahoo.com/news/cliffs-natural-resources-inc-reach-211602718.html

Cliffs Natural Resources Inc. announced today an agreement with the United Steelworkers Union for a new six-year labor contract that will cover approximately 229 represented workers at Cliffs` Pointe Noire operation in Quebec. The agreement has been ratified by United Steelworkers local union memberships.