Vale Country Manager showcases company's in-country value and long-term commitment to the Sultanate at Oman Investment Forum 2012

"Oman's forward-thinking strategies, stable economy, attractive foreign investment policies and competitive business structure have provided fertile ground for us to successfully create a 'virtual iron ore mine' through our $1.25bn Pelletizing Plant and Distribution Center in Liwa. Today we proudly supply pellets to some of the biggest steel producers in the Middle East, North Africa and Asia including India," he said.

The two-day forum brought together government officials and businessmen along with members from the international business community. Beluco, one of three participants on a private sector panel, highlighted the in-country value that Vale has brought to Oman by investing $12m in training and recruiting programs for more than 200 Omanis and generating over 1,200 direct jobs. "Vale is fully committed to fostering national talent and providing meaningful employment opportunities. We do not view Omanization as merely a quota that needs to be fulfilled but rather as a platform to build for the future by transferring the necessary skillsets and knowledge for Oman to cement its position as a world-class integrated steel production base," he affirmed.

To date, Vale has awarded $420m to local contractors during the construction phase and has partnered with Sohar Industrial Port Company and Oman Shipping Company to establish a just-in-time operations framework that will better serve customers in the region while providing the highest quality iron ore pellets.

"We will continue to work hand-in-hand with our partners, local suppliers and the Omani government to create sustainable value for the country as a whole," he added.

"In addition to developing the national supply chain and investing over $40m in pioneering technologies that advance environmental stewardship, we are strengthening our relationship with the communities surrounding our operations."

Vale's operations in the Sultanate are underlined by its sustainable practices which extend far beyond its business to include long-term social investments that aim to develop and empower local communities while respecting the culture and unique characteristics of Oman. As an integral part of its community outreach agenda, Vale formed a corporate social responsibility cooperation with Oman Oil Refineries and Petroleum Industries Company (ORPIC) and Sohar Aluminum called 'Jusoor'. This flagship partnership initiative is currently implementing a number of key social development projects in Al Batinah.