Message Ven 26 Oct 2012 09:38

Extrait conf call VALE

Alexander Hacking - Citigroup Inc, Research Division

The first question is regards to copper. Can you give us some guidance on how much copper sales we should expect next year from Salobo and also from Zambia? And the second question relates to the possible partnerships. Obviously, this has been discussed with Rio Colorado. But is it something that you're also considering in Mozambique, with the coal? And does it make sense to have some kind of partnership with Rio Tinto on the logistics platform?
Luciano Siani Pires - Chief Financial Officer and Member of Finance Committee

So to talk about copper, I will hand over to Mr. Peter Poppinga.
Peter Poppinga

Alex, thanks for the question. So copper, as you know, we are starting up Lubambe, and we just did it in October. This is a 45,000 tons capacity. It's a JV actually between Vale and ARM, and there's some government participation in there as well. It's going very well. But, of course, the ramp up will be -- we expect no big hiccups during the ramp-up. It will be a normal ramp-up. I would be hesitant to say to you how much are we going to produce next years, would be a looking forward statement. But I would expect that we passed easily the 50% capacity