Vale hopeful for VNC sale outcome

Vale’s head of base metals said he is “hopeful” a positive decision will be reached in two days for the sale of nickel-cobalt operation Vale New Caledonia (VNC) on Wednesday December 2.

The Brazilian multi-metal miner entered into a 30-day exclusivity agreement to discuss the sale of VNC with a consortium comprising current management and employees of the unit, as well as state investors and Swiss trading firm Trafigura on November 4. “We have been working tirelessly since the end of 2019 to exit New Caledonia, we have put a lot of effort into selling the business,” Mark Travers, Vale’s executive director of base metals, said during the Vale Day virtual investors' event. Local protests over the planned sale in New Caledonia have blocked access to the mine, according to news reports. When asked about...

Published

Rijuta Dey Bera

December 04, 2020

16:40 GMT

New York