Vale heartened by country's economic prospects

Multinational mining and steelmaking major Vale S.A. said it sees substantial investment opportunities in China and reaffirmed its commitment to the Chinese market fueled by unwavering confidence in the nation's sustained economic growth.

"As our largest market globally, China has a very vibrant economy with massive opportunities for investment. We will continue deepening our foothold in the country considering the massive market opportunities," said Gustavo Pimenta, CEO of Vale.

"As a long-term partner of China for over 50 years, we see tremendous opportunities for collaboration with China. We have been actively engaging in discussions with potential Chinese partners to jointly develop projects abroad and we look forward to working with our Chinese partners to jointly grow our business overseas, creating long-term value for the global steel industry, he said.