Battery Boom Prompts Iron Giant Vale to Mull Base Metal Spin-off
- Vale sees opportunity to grow in electric-vehicle space
- ‘This is all about unlocking value,’ BI’s Grant Sporre says
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Vale SA, the world’s second-largest iron ore producer, is exploring spinning off of its base metals business as the global transition to clean energy and transport spurs demand for copper and nickel.
“We are in a phase of studying -- analyzing the possibility,” Chief Executive Officer Eduardo De Salles Bartolomeo told analysts on a conference call Tuesday.