Vale to spend AUD 39 million on exploration in Australia
Mr Decio Amaral global coal MD at Vale SA said that it plans to spend AUD 39 million on exploration in Australia in 2010, with AUD 17 million of that for copper and fertilizer.
Reuters reported that Australia approved miner Rio Tinto's USD 1 billion plus South of Embley bauxite mine and port project in Queensland after a year's delay due to concerns about ships harming the Great Barrier Reef.