Brazil's Vale to meet debt target before implementing new growth plans – exec
The new growth strategy being evaluated by Brazil's Vale would only be implemented once the company meets its debt reduction targets, an executive director for the world's largest iron ore producer said on Monday.
The company is also interested in investing in the electricity sector itself or through a joint venture, including potentially bidding for Companhia Energetica de Minas Gerais hydroelectric projects, said Clovis Torres, an executive director who oversees legal issues and human resources.
Vale is concerned, however, over legal issues related to auctions, which have been marred by disputes after Cemig lost the renewal of their licenses. (Reporting by Luciano Costa; Writing by Jake Spring; Editing by Sandra Maler)