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Vale considers a partial IPO of their base metals division
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Report summary
Vale, the world’s largest iron ore producer, is considering selling part of its base metals division, via an IPO. Vale estimate the deal could be worth up to US$14 billion (40% of its existing base metals division, which it values at US$35 billion) and would free up cash and strengthen the balance sheet, helping to finance its capital investment programme at a time when iron ore prices are at a five year low.
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