Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Brazil's Vale SA said on Thursday it is considering the sale of a minority stake in its base metals unit in an initial public offering, as it looks to raise funds for key projects in the midst of sliding commodity prices. CEO Murilo Ferreira told investors in New York that Vale is considering selling 30% to 40% of the division, which some analysts have valued at between $28-billion and $35-billion.
Brazil's Vale SA said on Thursday it is considering the sale of a minority stake in its base metals unit in an initial public offering, as it looks to raise funds for key projects in the midst of sliding commodity prices. CEO Murilo Ferreira told investors in New York that Vale is considering selling 30% to 40% of the division, which some analysts have valued at between $28-billion and $35-billion.
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