New Century, Vale extend exclusivity period for VNC sale

New Century Resources and Vale Canada have mutually agreed to extend the exclusivity period for the former’s acquisition of Vale New Caledonia (VNC) by 45 days, it was announced at a press conference held by VNC chief Antonin Beurrier on Tuesday July 28.

Australian zinc miner New Century entered into a 60-day exclusivity agreement with Vale Canada, a subsidiary of Brazilian multi-metal miner Vale, to acquire a 95% stake in their New Caledonia operations on May 26.
But while the original exclusivity period has now expired, Fastmarkets understands that both parties are satisfied with the progress made during negotiations in the sale of the embattled asset.

New Century...

Published

Amy Hinton

July 28, 2020

10:10 GMT

London