Vale in talks to divest Midwestern System iron ore, manganese ore ops

Vale SA said April 1 that it is in advanced talks to sell the iron ore, manganese ore and logistics operations that are part of its Midwestern System in Brazil, which includes the Corumba and Urucum mines.

Vale did not disclose details on the potential sale, which is in line with the company's strategy to simplify its portfolio and focus on its main businesses and growth opportunities.

The Midwestern System produced 2.7 million tonnes of iron ore and 200,000 tonnes of manganese ore in 2021, contributing $110 million in adjusted EBITDA.

S&P Global Commodity Insights produces content for distribution on S&P Capital IQ Pro.