Copper $ 5.6358 / lb 2.72%
Brent Crude Oil $ 104.4 / bbl -4.21%
Palladium $ 1496.5 / ozt 5.39%
Crude Oil $ 101.85 / bbl -3.06%
Natural Gas $ 2.89 / Btu 0.10%
Silver Futures $ 75.495 / ozt 7.47%
Aluminum Futures $ 3314.25 / ton -1.21%
Micro Gold Futures $ 4713.1 / ozt 3.80%
Micro Silver Futures $ 75.48 / ozt 7.54%
Platinum $ 1973.85 / ozt 4.22%
Gold Futures $ 4713.3 / ozt 3.84%
Go to MDC Markets

Vale to sell 25% stake in China’s Henan Longyu for $152m

Reuters | December 27, 2019 | 8:10 am News Top Companies China Latin America Iron Ore 
Vale launches self-driving trucks at its largest mine Carajas
Reference (Image courtesy of Vale)

Brazilian mining company Vale SA said on Friday it has agreed to sell its 25% stake in China’s Henan Longyu Energy Resources Ltd. to Yongmei Group Co. for about $152 million.

In a securities filing, Vale added the transaction is expected to be concluded in the first quarter of 2020. The company also said the divestiture in Henan Longyu Energy Resources is part of its strategy better allocate capital and streamline its businesses.

(By Gabriela Mello; Editing by Louise Heavens)

Comments

Your email address will not be published. Required fields are marked *

No comments found.

More News

{{ commodity.name }}