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NEW YORK — Vale SA has touted a policy of “value over volume” as the mining company looks to idle unprofitable projects in the wake of $1.5 billion in capital spending cuts for 2014.

Peter Poppinga, Vale’s executive director of base metals and information technology, said that while capital expenditure cuts would affect base metal operations to the tune of $800 million, a combination of cost reductions and operational ramp-ups would result in “higher value” for the Rio de Janeiro-based company.

Speaking at the company’s 11th annual Vale Day at the New York Stock Exchange Dec. 2, Poppinga said its North American plans include “idling some non-profitable mines in the short term and (medium) term,” while optimizing projects in northern Ontario’s Sudbury Basin and surrounding areas.

Read more at: http://www.amm.com/Article/3285782/Nonferrous/Vale-outlines-2014-strategy-for-base-metals.html