Vale SA CEO Murilo Ferreira

Murilo Ferreira, incoming chief executive officer of Vale SA, the world's largest iron-ore producer, speaks to journalists during a press conference, Rio de Janeiro, Brazil, May 20, 2011. (Austral Foto/Renzo Gostoli)

Murilo Ferreira, incoming chief executive officer of Vale SA, the world's largest iron-ore producer, speaks to journalists during a press conference, Rio de Janeiro, Brazil, May 20, 2011. (Austral Foto/Renzo Gostoli)

Murilo Ferreira, incoming chief executive officer of Vale SA, the world's largest iron-ore producer, speaks to journalists during a press conference, Rio de Janeiro, Brazil, May 20, 2011. (Austral Foto/Renzo Gostoli)

Murilo Ferreira, incoming chief executive officer of Vale SA, the world's largest iron-ore producer, speaks to journalists during a press conference, Rio de Janeiro, Brazil, May 20, 2011. (Austral Foto/Renzo Gostoli)

Murilo Ferreira, incoming chief executive officer of Vale SA, the world's largest iron-ore producer, speaks to journalists during a press conference, Rio de Janeiro, Brazil, May 20, 2011. (Austral Foto/Renzo Gostoli)

Murilo Ferreira, left, incoming chief executive officer of Vale SA, the world's largest iron-ore producer, and president of the Board of Directors, Ricardo Flores, right, speak to journalists during a press conference, Rio de Janeiro, Brazil, May 20, 2011. (Austral Foto/Renzo Gostoli)

Murilo Ferreira, incoming chief executive officer of Vale SA, the world's largest iron-ore producer, speaks to journalists during a press conference, Rio de Janeiro, Brazil, May 20, 2011. (Austral Foto/Renzo Gostoli)

Murilo Ferreira, incoming chief executive officer of Vale SA, the world's largest iron-ore producer, speaks to journalists during a press conference, Rio de Janeiro, Brazil, May 20, 2011. (Austral Foto/Renzo Gostoli)