Aluminum is present in our everyday lives in countless objects such as cans of food and drink, kitchen utensils and various kinds of packaging. It is also increasingly used to produce cars, boats and aircraft.
In February 2011, Vale concluded its transaction with Norsk Hydro ASA (Hydro) to transfer all of its interests in Albras – Alumínio Brasileiro S.A. (Albras), Alunorte – Alumina do Norte do Brasil S.A. (Alunorte) and Companhia de Alumina do Pará (CAP).
Vale has also created a new company, Mineração Paragominas S.A. (Paragominas), to which it has transferred the Paragominas bauxite mine and all its other bauxite mining rights in Brazil. As part of this transaction, Vale has sold 60% of Paragominas to Hydro and it will sell its remaining 40% stake in two equal 20% tranches in 2013 and 2015.
Combining Vale’s and Hydro’s assets will create one of the biggest and most competitive integrated aluminum producers in the world, with scope for growth and access to large bauxite reserves, low-cost energy and technological know-how.