TORONTO (miningweekly.com) – Rio de Janeiro-based Companhia Vale do Rio Doce has appointed Tito Martins as president and CEO of its nickel subsidiary, Vale Inco, from January 2009.

Martins, who replaces Murilo Ferreira, will retain his current position of nonferrous minerals executive director, the group said in a statement.

He will oversee  nickel, copper, aluminum and coal operations, sales and marketing.

Martins, who has worked for Vale since 1985, was previously executive director for corporate affairs and energy.

Vale, which is the largest iron ore producer in the world and the second-biggest nickel-miner, acquired Canadian nickel miner Inco in 2006 for $18,9-billion.

However, the group has been forced to scale back nickel production over the last couple of months, because of declining prices and demand for the metal, which is used to produce stainless steel.

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