The CEO of Vale Murilo Ferreira said the mining company currently has $7.7 billion approved for investments in nine African countries. Optimistic about the potential of the local projects, the executive pointed out that the Brazilian mining company is betting more on the continent than the Chinese competitors. “I do not see anyone from China ahead of us in Africa. We have invested more than they have,” he said.
Ferreira noted that Vale develops a coal project in Mozambique, which includes the construction of a deep-water port, a 900-km railroad and the duplication of a mine.
The president emphasized that the project budget represents one-third of Mozambique’s GDP. Despite the importance of the company project in the country, Ferreira said that Vale does not want an imperialist stance. “We want to speak the local language,” he said. To do this, the company intends to increase the numbers of African workers in the project.
Ferreira participates in the seminar Investing in Africa: Opportunities, Challenges and Tools for Economic Cooperation, organized by the Brazilian Development Bank (Banco Nacional de Desenvolvimento Econômico e Social – BNDES).
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