Deals
Iron Miner Vale Says Crown-Jewel Deal Unlikely This Year
- Expects to complete coal and fertilizer sales this year
- Vale is battling to bring down $27 billion in net debt
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Vale SA, the top iron-ore miner, is poised to complete coal and fertilizer sales this year, while a deal involving its most prized assets probably will take longer, according to its investor-relations chief.
The Rio de Janeiro-based company, which is grappling to reduce one of the industry’s biggest debt loads, is looking to wrap up a protracted negotiation to sell coal assets in Mozambique. It’s also nearing an accord to sell its fertilizer business, Andre Figueiredo said Thursday at an event in Sao Paulo.