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01 May

Vale completes $2.5 billion deal with Manara Minerals

Vale has received regulatory approval to sell a 10% stake in Vale Base Metals Limited (VBM) to Saudi Arabia’s Manara Minerals for $2.5 billion. VBM is one of the world’s largest producers of nickel, copper, cobalt and platinum group metals. It is headquartered in Toronto, Canada and has operations in the UK, Brazil, Japan and Indonesia. Manara Minerals is a joint venture between Saudi state-owned miner Ma’aden and the kingdom’s Public Inves…
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