Vale said it will delay projects in the conceptual phase of development as the company copes with the economic climate.
The company, which already delayed a potash project in Canada, could delay more projects after deliberation by the board of directors.
“In December, when we announce our investments plan, this will reflect the new economic scenario,” the company said.
A company spokesperson said Vale’s 2013 investment plan will be announced during a meeting with investors in New York.
Source (English): MarketWatch