Tag: Vale SA
Vale acquires Simandou iron ore assets
Vale SA has acquired a 51% interest on BSG Resources (Guinea) Ltd, from BSG Resources Ltd, which indirectly holds iron ore concession rights in Guinea, in Simandou South (Zogota), and iron ore exploration permits in Simandou North and Blocks 1 & 2. In an all cash transaction, Vale will pay USD 2.5 billion, of which USD 500 million is payable immediately and the remaining USD 2 billion on a phased basis upon achievement of specific milestones.
Brazilian iron ore projects
Vale SA has signed a protocol of intentions to invest USD 5.27 billion in the key mining state of Minas Gerais.
Vale signs MoU with ThyssenKrupp
Vale SA has signed a MoU with ThyssenKrupp Steel AG to increase its stake in ThyssenKrupp CSA Siderúrgica do Atlântico Ltda to 26.87%, from its current 10% interest, through a capital infusion of EUR 965 million.
