Bloomberg said, citing people familiar with the news of the world’s largest iron ore producer, vale is consultations with a number of Asian mining company, may sell the Brazilian iron ore assets, trading up to $7 billion. , according to people familiar with the deal has not yet reached, eventually could not reach any deal.
Vale in February, according to results released its fourth quarterly net loss of $8.6 billion last year, is the first loss since 1997. Vale said hope to raise about $10 billion before the next year, to pay our debts.
Some foreign media reported last month said, vale to sell some assets with the Banks of the preliminary negotiations, including all or part of its stakes in fertilizer business as well as the copper business in Brazil. There are reports that the world’s largest concentrated phosphate fertilizer producers Mosaic (Mosaic) is to buy vale fertilizer business negotiations, is expected to price or $3 billion.
At present, the other major global mining giant freeport – mike moran copper gold companies, glencore, such as Anglo American are trying to sell assets to reduce debt. This is mainly because commodity prices downturn caused mining giant performance, increase the cost of credit.