It is reported that Vale is yet to change its investment plans or suffer any canceled or modified shipments because of the global crisis.

Mr Murilo Ferreira CEO of said in an interview published by Estado de S.Paulo newspaper said that unlike the 2008-09 crisis when Vale was forced to reduce production and lay off workers, this time around, credit and financing lines have remained intact, allowing the trade of iron ore and other commodities to continue.

He said "Life goes on as usual at Vale and, as a result, things are going as planned. We had a very good July.”

He added that Vale remains strongly optimistic about its key market of China, although he acknowledged concerns about high inflation there that could eventually translate into dampened demand.

(Sourced from Reuters)