Cash not behind potential partner in VNC, Vale says [UPDATED]

Vale SA is searching for an equity partner for its Vale New Caledonia (VNC) nickel operations to send a positive message to investors and not because the company needs cash.

“It’s not about money, it’s about behavior. We don’t expect the site to be operated in an improper manner,” Vale president and chief executive officer Fabio Schvartsman said at Vale’s annual investor day at the New York Stock Exchange on Wednesday December 6.
We want to “send a message we will deliver returns. We want to send the right message. It has nothing to do with cash necessity,” he added.

The company will make a...


Millicent Dent

December 11, 2017

01:20 GMT

New York