# 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.

- Type: Acquisition
- Announced: 2023-07-28
- Value: $3.40B
- Status: announced
- Products: nickel, copper
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Vale](https://endata.com/companies/14293.md)
- [Manara Minerals](https://endata.com/companies/71694.md) (investor)
- [Engine No. 1](https://endata.com/companies/71695.md) (investor)

## Sources

- [theassay.com](https://www.theassay.com/articles/feature-story/vales-us3-4b-base-metals-unit-sale-marks-significant-move-for-saudi-arabian-mining/), 2023-07-28: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.