Vale recently announced the appointment of Tito Martins as President and Chief Executive Officer of its wholly-owned subsidiary Vale Inco Ltd., replacing Murilo Ferreira. He will be starting in January 2009.

Tito Martins will retain the position of Executive Director of non-ferrous minerals of Vale. In his roles, he will be in charge of the nickel, copper, aluminum and coal operations, sales and marketing.

Tito Botelho Martins Junior was appointed Vale´s Executive Director for Non-Ferrous and Energy in May 2008. Since April 2006 he had been Executive Director of Corporate Affairs and Energy, where he had already served as the Managing Director of the Corporate Finance Department from August 1999 to September 2003. Previously, from 1985 to 1999, he held different positions in Vale´s financial areas.

Tito Martins was also the CEO of CAEMI Mining and Metallurgy Corp. and CEO and Chairman of MBR Minerações Brasileiras Reunidas from 2003 to 2006.

As a result of his expertise in the fields of administration and finance, Mr. Martins became a member of the board of directors of several corporations both in Brazil and abroad. Among them, it is worth mentioning Vale Foundation, Ferrovia Centro Atlantica (FCA), Samarco Mining Co., Ferroban Railways, Açominas Steel Co., Gulf Industrial Investment Company (GIIC) in Bahrain, Itabrasco and Hispanobras.

He is President of the Board of Directors of MRN – Mineração Rio de Norte S.A., Valesul Alumínio S.A. and ALUNORTE – Alumina do Norte do Brasil S.A.

Tito Martins holds a Bachelor’s degree in Economics from the Federal University of Minas Gerais (UFMG) and a Master’s degree in Management from the Federal University of Rio de Janeiro (IEAD). He has attended other executive education programs at INSEAD (France) and at the Kellogg School of Management of the Northwestern University (USA). He has been working with Vale since 1985.

The following article was first published in Engagement, Vale’s magazine for socially responsible and sustainable mining.

Guided tours help bring together CVRD and local town residents

Ever since she can remember, Luana has looked out over the same intriguing landscape from her window. Every day the 19-year-old from Minas Gerais asked herself how it would feel to be there, inside the mine she sees day after day on the far horizon. Then, last November, she was finally able to satisfy her curiosity by taking part in the CVRD Community Visits Program.

The program started in 2003 with the aim of bringing CVRD and local communities near its facilities closer together, and covers the states of Minas Gerais, Espírito Santo, Pará and Maranhão. Bernadete Almeida, Communities Communication coordinator at CVRD, explained, “Surveys showed that we were perceived as being ‘distant’ by some groups. There was also concern as to the environmental impact of our activities. We realized that people were interested in learning more about what we do and that many would like to see a mine with their own eyes. That’s why we created the Visits Program, to open the Company’s doors to receive anybody living in the cities and regions where CVRD is present.”

The story of Luana Andreza Ferreira is a case in point. She lives in Gabiroba de Cima, a neighborhood of Itabira (Minas Gerais) and has grown up surrounded by CVRD. Of her nine uncles, eight work in companies that provide services to CVRD, as does her brother. Nevertheless, she never really knew much about the company. “I thought they only mined the ore. Now I know that they also replant the landscapes, re-cultivating the natural ground cover and forest in the places where the Company operates,” she explained.
The visits to the mines are always a good opportunity to make the public aware of how important a role iron ore plays in modern life.

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Marilyn Scales is a field editor for the Canadian Mining Journal, Canada’s first mining publication. She is one of Canada’s most senior mining commentators.

Look to the gold sector for good news from Canadian miners. While base metal, coal and potash producers continue to trim output, companies such as Vancouver’s Goldcorp have recorded record quarterly production. Gold output at all of the company’s operations was 692,000 oz during the last quarter, bringing the 2008 total to 2.3 million oz.

Nor is that the only good news from Goldcorp. Although the calculation of operating costs for 2008 has not yet been completed, the company expects total cash costs will be $300/oz of gold on a byproduct basis.

The company is also predicting it will produce another 2.3 million oz of gold in 2009 at a total cash cost of $365/oz on a byproduct basis. Increases will be achieved at most mines, but production at the Alumbrera mine in Argentina and El Sauzal mine in Mexico will be significantly lower than previous years. The 2009 forecast for Goldcorp’s Canadian operations include 620,000 oz from Red Lake mines, 290,000 oz from the Porcupine division, and 235,000 oz from Musselwhite mine.

Nor is Goldcorp the only bright spot.

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