April 1, 2021 |
Brazilian mining company Vale said Wednesday that it sold Vale Nouvelle-Calédonie (VNC), a nickel mine on the Pacific Island of New Caledonia, to a consortium that includes commodities trader Trafigura.
Vale did not reveal the terms of the deal, but it said the former VNC operations will receive a "financial package" for $1.1 billion, including $555 million from Vale's subsidiary in Canada. The Brazilian miner added that it has a long-term nickel supply contract from the mine to meet growing de
Brazilian miner says its former subsidiary will receive $1.1 bln in financing, including $555 mln from its Canadian business