Vale's 2012 investment budget has been approved by its board of directors.
It includes a $157-million capital expenditure to reopen Sudbury's Totten nickel mine, which is expected to go into production during the second half of 2013, with an estimated nominal capacity of 8,200 tons per year.
In total, Vale will invest US$12.9 billion for project execution, US$2.4 billion for research and development, and US$6.1 billion for sustaining existing operations.
Part of the sustaining capital expenditure budget for 2012 includes the development of the atmospheric emission reduction (AER) project, which is being designed to reduce air pollution at Vale's Sudbury operations. The multi-year project includes slag regreening, reforestation and preservation.
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