Vale Looks to Sell Up to 30% of Metals Unit in Possible IPO

PT Vale Indonesia

Vale SA, the world’s largest nickel producer, is considering selling about 25 percent to 30 percent of its base metals business in an initial public offering.

Work on the transaction continues, although the Rio de Janeiro-based miner will only proceed if nickel and copper prices reach “appropriate” levels, Investor Relations Director Rogerio Nogueira said in Sao Paulo Wednesday.

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