Vale enters into new exclusivity agreement to negotiate the sale of Vale New Caledonia

11/5/2020

Vale enters into new exclusivity agreement to negotiate the sale of Vale New Caledonia

Vale informs that its subsidiary Vale Canada Limited (VCL) has entered into exclusivity for 30 days with a consortium to negotiate the sale of its ownership interest in Vale Nouvelle-Calédonie S.A.S. (VNC). The consortium led by current Vale New Caledonia management and employees is supported by both The New Caledonian and the French governments and has Trafigura as a minority shareholder.

The negotiations include finalizing outstanding requirements to support the transition and continuity of VNC operations from VCL to the new ownership structure.

Any transaction for the acquisition of VNC would be subject to the prior consultation of the VNC works council and customary closing conditions, including regulatory approvals.

Vale reaffirms its commitment with its shareholders to transform the Base Metals business, simplifying operations flowsheet going forward and enabling the continuous focus on core assets, while also honoring its new pact with society, contributing to the maintenance of a sustainable environment for safe operations continuity.


Vale enters into new exclusivity agreement to negotiate the sale of Vale New Caledonia