Vale looks for partner in base metal mining spinoff company

Vale Canada’s parent company, Vale SA , is looking to create a spinoff company for its global base metals assets.

At an investors meeting at the New York Stock Exchange on Dec. 7, Pimenta said Vale is only looking to sell 10 per cent of its base metals business to a minority partner so as to maintain a majority stake in this proposed joint venture. Under the banner of Vale Base Metals, the nickel and copper operations will have independent governance and have a board constituted of experts and leaders in deep underground mining and in the electric vehicle industry.

With critical minerals like nickel, copper and lithium coming rapidly into vogue by car makers, Vale wants to stake out a North American position in the global march toward vehicle electrification by doing agreements directly with the car companies.

Hopefully they find someone that can run a mining company better then they can.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Market movers: Stocks seeing action on Wednesday - and whyA look at North American equities heading in both directions
Source: globeandmail - 🏆 5. / 92 Read more »

Vale to break out base metals business, sell stake in 2023 - BNN BloombergAfter several years of deliberations, iron ore giant Vale SA is finally laying out a path for unlocking value from its nickel and copper business as demand for the so-called battery metals picks up.
Source: BNNBloomberg - 🏆 83. / 50 Read more »