Otmane El Rhazi : Vale expects to raise $1.5bn from asset sale in Brazil

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.

Brazilian miner Vale could raise about $1.5-billion through the sale of a stake in one of its Brazil-based assets, a senior executive said on Wednesday. Vale, the world's largest producer of iron-ore, is scrambling to raise cash to shore up its finances in the midst of a price slump in the raw material. The transaction could be completed by the third quarter, Rogério Nogueira, head of investor relations, said at an event in São Paulo.