Vale announced it has fulfilled all conditions precedent in its partnership with Anglo American, where the company has acquired a 15% equity interest in Minas-Rai mine complex owner Anglo American Minério de Ferro Brasil.
Considering the closing of the transaction, Anglo American will now own the Serra da Serpentina assets previously owned by Vale in Brazil.
Under the terms of the agreement, in addition to the contribution of the Serpentina assets, Vale has paid US$30 million to the Anglo American Group. Anglo American will continue to control, manage and operate Minas-Rio, including any future expansion.
The deal was first announced on February 22, 2024.
Vale’s other properties in Brazil include Minas Gerais, Para, Maranhao and the Rio de Janeiro complex. The company’s primary commodities in the country are iron ore, nickel, manganese and copper.
Source: Vale