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CEO says Vale will look to turn around copper and nickel business (NYSE:VALE)


Nickel is a chemical element, used in pure industry or in metal alloys, anti-corrosion, stainless steel.

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Vale (NYSE:SELL) To be review a short-term spinoff CEO Eduardo Bartolomeo said its base metals business, and eventually public listing, barricaded the copper and nickel unit from the iron ore business.

More than sell all or part of base metal unit, the idea now is to eventually grow big business like Vale(SELL) today, has a market capitalization of $66 billion and takes it public, Bartolomeo told a Financial Times mining conference, without providing details of the time.

The two businesses have different growth prospects, with “massive growth” in base metals due to the energy transition away from fossil fuels, while iron ore is a mature business area, the CEO said. know.

Vale (SELL) recently forecast that global nickel demand will increase 44% by 2030 to 6.2 million tons.

Vale (SELL) can be “one of the cheapest companies on the market,” and it offers a dividend yield of nearly 10%, Cavenagh Research wrote in a note. recently published analysis on Seeking Alpha.

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