Vale sells 13% stake in base metals unit for US$3.4B

Vale announced it will sell a 13% stake in its base metals business (VBM) for US$3.4 billion, with Manara Minerals (a joint venture between Ma'aden and Saudi Arabia's Public Investment Fund) taking 10% and Engine No. 1 taking 3%. The deal is expected to close by Q1 2024.

“We see these strategic investments as a major milestone in our path to accelerate accretive growth in our Energy Transition Metals business platform, creating significant long-term value to all of our stakeholders.”theassay.com

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• theassay.comVale's US$3.4B Base Metals Unit Sale Marks Significant ...Lindsey Witmer CollinsJul 28, 2023

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