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Brazil's Vale to sell 13% stake in base metals unit for $3.4 billion

SAO PAULO (Reuters) -Brazilian miner Vale said on Thursday it reached two separate agreements to sell a 13% stake in its base metals business for $3.4 billion, aiming to boost its copper and nickel output. The sale is part of Vale's strategy to unlock more value from its nickel and copper assets, given expectations for soaring demand for the metals from the electric vehicle market. A joint venture formed by Saudi Arabian Mining Co (Ma'aden) and the country's Public Investment Fu...
Brendan Oboyle Peter Frontini Isabel Woodford Eduardo Bartolomeo Deepa Babington Public Investment Fund
Source: yahoo.com

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