Vale SA (CVLC.DU)
- CNW Group
Vale announces completion of strategic partnership agreement with Manara Minerals
Following approval from the relevant regulatory authorities, Vale S.A. ("Vale" or "Company") is pleased to announce the completion of its approximately US$2.5 billion sale to Manara Minerals, a joint venture between Ma'aden and Saudi Arabia's Public Investment Fund, under which Manara Minerals will acquire 10% of Vale Base Metals Limited ("VBM").
- CNW Group
Vale Base Metals Finalizes Plans to Reduce Equity Interest in PT Vale Indonesia Tbk
Vale Base Metals ("VBM") informs that Vale Canada Limited ("VCL") signed a Definitive Agreement ("Agreement") with PT Mineral Industri Indonesia ("MIND ID") and Sumitomo Metal Mining Co., Ltd. ("SMM") regarding the divestment obligation of PT Vale Indonesia Tbk ("PT Vale"). Under the Agreement, VCL and SMM will divest approximately 14 per cent pro-rata combined equity interest in PT Vale to MIND ID.
- Reuters
Brazil's Vale fourth-quarter profit falls 35% on higher provisions over dam accident
Vale, one of the world's largest iron ore producers, reported a $2.42 billion net profit for the quarter ended in December, compared to $4.15 billion expected by analysts polled by LSEG. Vale's bottom line took a hit from $1.2 billion tacked on to its provision related to the 2015 collapse of a tailings dam, which caused a giant mudslide that killed 19 people and severely polluted the Rio Doce river. BHP, Vale's partner in the Samarco joint venture that owned the dam, said last week it would record another $3.2 billion impairment related to the case.
