Vale to find investor for New Caledonia exit within two months, executive says

Brazilian mining company Vale expects to find a potential investor to exit its South Pacific nickel asset Vale New Caledonia (VNC) in the next one to two months, base metals director Mark Travers said in a conference call on Wednesday April 29.

The company confirmed it was looking to divest from the business in December last year, while talks with interested parties began in November, Travers added. Vale received non-binding offers for the unit in February 2020, he said.

“The [Covid-19] crisis happened in March but this should not impact that process,” Travers...

Published

Renato Rostás

April 29, 2020

19:26 GMT

São Paulo