Reuters reported that Brazil's Vale will likely boost investments by as much as 78% in 2011 to expand into Africa and China and increase output of other metals.

As per report, Vale is likely to announce a capital expenditures plan between USD 23 billion and USD 25 billion at its investors day meetings in New York on October 18th 2010. That compares with USD 14 billion in investments budgeted for 2010.

Africa and China remain key regions for Vale, which is also looking to diversify from iron ore into other areas like fertilizers.

A spokeswoman for Vale in Rio de Janeiro declined to comment on the Estado story when asked by Reuters.

(Sourced from www.reuters.com)