Toronto, 18 November 2010

Vale SA plans to spend more than $10 billion over the next five years to expand its operations in Canada, an investment that may soothe critics of the Brazilian mining giant's track record in the country.

The company said on Wednesday that the large-scale investments have already started and will ramp up during 2011. Vale bought the bulk of its Canadian operations through its C$19.2 billion ($18.8 billion) acquisition of Inco in 2007.

Vale owns copper and nickel operations in the provinces of Ontario and Newfoundland and Labrador, along with a potash development project in Saskatchewan.

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