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Vale's cash generation dependent on ore price, CEO says
June 28, 2017 / 1:18 PM / 4 months ago

Vale's cash generation dependent on ore price, CEO says

SAO PAULO, June 28 (Reuters) - The high correlation between iron ore price trends and cash generation at Vale SA shows the dependence that the world’s No. 1 producer of the mineral has on that segment, a presentation to investors showed on Tuesday.

Slides of the presentation by Chief Executive Officer Fabio Schvartsman at a Citigroup Inc event in São Paulo also pointed to the importance of ferrous minerals in Vale’s assets despite efforts to diversify. Underperforming operations at Vale will have to be reassessed, Schvartsman said in the presentation. (Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama)

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