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Vale puts Brazilian Ni, Cu assets into two entities

Mining giant Vale is reorganising its Brazilian base metals operations which will see the transfer of the copper assets to its subsidiary Salobo Metais while a new subsidiary will be formed to hold the nickel assets.
Vale puts Brazilian Ni, Cu assets into two entities Vale puts Brazilian Ni, Cu assets into two entities Vale puts Brazilian Ni, Cu assets into two entities Vale puts Brazilian Ni, Cu assets into two entities Vale puts Brazilian Ni, Cu assets into two entities

“With the reorganisation, Brazilian base metals assets will be combined into two entities, enabling more efficient processes and management,” the company said.

The assets will all continue to be consolidated and wholly owned by Vale.

"With the reorganisation, Brazilian base metals assets will be combined into two entities, enabling more efficient processes and management," the company said.

Vale is the world's largest producer of nickel. Outside of Brazil, it also has nickel operations in Canada and Indonesia.

The company also has copper operations in Canada.

Vale's share price was down 1% day on day at US$12.66 on 29 September.