Vale expects to stay competitive regardless of price levels
SAO PAULO Aug 25 (Reuters) - Vale SA, the world's largest producer of iron ore, will stay competitive and more profitable than rivals regardless of where prices for the mineral and basic metals will go in coming months.
In a presentation sent to securities industry watchdog CVM on Tuesday, Vale vowed to focus on generating more cash after dividend and interest payments and improving operational efficiency. Vale also said that, at this point, there is no certainty when joint venture Samarco Mineração SA will resume iron ore exploration activities in Brazil. (Reporting by Guillermo Parra-Bernal and Gustavo Bonato; Editing by Chizu Nomiyama)
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