Vale’s CEO rules out nickel IPO, writedowns

Feb 10 (Reuters) – Vale’s chief executive said on Tuesday that a possible initial public offer of part of its nickel division was off the cards for now due to low prices for the commodity, but that other asset sales could be expected over the coming year.

The Brazilian miner is under pressure to resolve a cash-flow squeeze this year as it wrestles to fund mega-projects in the midst of a price slump in its core product: iron ore.

Read more at: http://in.reuters.com/article/2015/02/10/vale-sa-ceo-idINL1N0VK27J20150210

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