Vale gets offers for stake in base metals unit - local media

19th May 2023

By: Reuters


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Brazilian miner Vale received binding offers for a stake in its base metal unit, local newspaper Valor Economico reported on Thursday, citing unnamed sources.

Vale would sell 10% of the unit worth around $2.5-billion, the newspaper reported, adding the binding offers are likely to be analyzed next Thursday by the company's board.

Earlier this year, Vale said it expected an advance in its efforts to sell its stake to come in the first half of this year.

The company's press office declined to comment.

Edited by Reuters


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