Vale agrees to sell manganese, iron ore assets to J&F
2022-04-07 14:10:44 [Print]
Brazil's Vale has agreed to sell its manganese and iron ore mines in central Brazil, with an enterprise value of about $1.2 billion, to holding company J&F Investimentos, it said in a securities filing on Wednesday.
Vale said last week it was in advanced talks to sell the companies that compose its Center-West system as it looks to focus on core businesses and growth opportunities, but did not reveal the potential buyer.
The Center-West system, which comprises Mineracao Corumbaense, Mineracao Mato Grosso, International Iron Company and Transbarge Navegacion ventures, produced 2.7 million tonnes of iron ore and 200,000 tonnes of manganese ore in 2021.
Vale said last week it was in advanced talks to sell the companies that compose its Center-West system as it looks to focus on core businesses and growth opportunities, but did not reveal the potential buyer.
The Center-West system, which comprises Mineracao Corumbaense, Mineracao Mato Grosso, International Iron Company and Transbarge Navegacion ventures, produced 2.7 million tonnes of iron ore and 200,000 tonnes of manganese ore in 2021.
Manganese Ore S.A. 37%min In Tianjin Port
Unit:RMB/dmtu
China's manganese lump producers' sales volume statistics by province by month
Unit: mt
