BHPB said shopping its stake in Valesul smelter

Oct 27, 2004 | 06:00 AM | Diana Kinch

BHPB said shopping its stake in Valesul smelter BHP Billiton (BHPB) is expected to put its 45.5-percent stake in Brazilian aluminum smelter Valesul Alumínio SA up for sale, sources close to the company said.

Cia. Vale do Rio Doce (CVRD), Rio de Janeiro, which owns the other 54.5 percent of the smelter in Santa Cruz, would have the right of first refusal, according to the sources.

Potential buyers of the smelter, which produces 98,000 tonnes of primary aluminum a year, have been identified as Swiss trader Glencore International AG, Zug, and Japan's Nippon Amazon Aluminium Co. Ltd., which is a joint-venture partner with CVRD in the 450,000-tonne-a-year Aluminio Brasileiro SA (Albras) smelter in Para state in northern Brazil.....

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