Deals
Brazil’s Vale sells New Caledonia assets to Trafigura
RIO DE JANEIRO, March 31 (Reuters) – Brazilian miner Vale SA has concluded the sale of its nickel mining assets on the Pacific island of New Caledonia to a consortium including global commodity trader Trafigura, the company said in a Wednesday securities filing.
The exact terms were not disclosed, but Vale said that $1.1 billion will be invested in the New Caledonia assets, with $555 million coming from its subsidiary Vale Canada Ltd. Vale will have a supply contract to off-take part of the nickel produced, the company said. (Reporting by Gram Slattery; editing by Stephen Eisenhammer)
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