Vale to divest non-value adding nickel assets

Oct 25, 2012 | 02:59 PM | Thorsten Schier

Tags  Vale, nickel, Canada, third-quarter 2012, Luciano Siani, Peter Poppinga, Thorsten Schier, New Caledonia Onca Puma

NEW YORK — Vale SA will divest its non-value adding nickel assets, it said as it released its third-quarter earnings results Thursday.

While nickel is still a core business for Vale, it is "noncore for capacity expansion" and "non-value-adding assets will be divested," according to a presentation accompanying the company’s third-quarter earnings call.

Vale had sometimes taken a "volume-over-value" approach to its assets, chief financial officer Luciano Siani said during the call.

As a result, Vale might look to divest its New Caledonia nickel project, whose start-up has been delayed due to technical issues, Siani said. The project was most recently shut down due to an incident at the acid plant in May.....

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