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Financial News: VALE: Company Focuses On Basic Metals Profitability Before

VALE: Company Focuses On Basic Metals Profitability Before New Acquisitions

10/26/2017 - 18:43:00 (RTTNews)

(RTTNews) - Brazilian miner Vale aims at making the company's basic metals area more profitable before considering the possible purchase of new assets. The decision is in line with the strategy of becoming less dependent on iron ore.

However, in the case of nickel assets in New Caledonia, Vale's CEO, Fabio Schvartsman, said that the option is still to seek a partner, since new investments would be necessary for the operation to become profitable.

"We need a partnership there, and we are looking for. We do not know if we will be successful or not, but the reality is that it is a serious operation for the company," he said.

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