Mining companies plan to spend ~$24B during 2012-16 - including Vale's (VALE) $8B expansion of...

|About: Vale S.A. (VALE)|By:, SA News Editor

Mining companies plan to spend ~$24B during 2012-16 - including Vale's (VALE) $8B expansion of its Carajas mine - to boost production of iron ore, bauxite and other metals found in Brazil's Amazon rain forest. But environmental concerns aside, some investors bemoan the miners' bad timing, as prices of the metals have plunged from their heights on concerns about slowing growth in China.