Vale SA is considering selling its 40-percent stake in
Brazilian bauxite producer Mineração Rio do Norte
"There are noncore
assets which are being evaluated that can become divestment
targets, and that includes MRN," Vale chief executive officer
Murilo Ferreira was quoted as saying in local business
newspaper Valor Econômico.
MRN produced 17.1
million tonnes of bauxite in 2012, up 1.8 percent from the
previous year, according to the companys annual
At the end of last year, Rio de Janeiro-based Vale announced
a $4.2-billion impairment charge of its aluminum and nickel
assets. It reduced the market value of its 22-percent stake in
Norsk Hydro ASA due to low aluminum prices and uncertainties
regarding the European economy.
A version of this article was first published by AMM sister
publication Metal Bulletin.