Kuala Lumpur: Despite the fact that all of the big miners around the world are tightening their belts expenditure-wise for 2013, Brazil’s Vale has announced significant spending next year for its Malaysian distribution hub at Perak. A further $443m has been earmarked for its ongoing construction of a terminal and storage facility at Teluk Rubiah in Lumut. The amount is around one third of the total estimated costs for Vale’s Asian hub, something it was forced into building as an alternative when the Chinese barred its access on the mainland. [06/12/12]
