#SportingIsLife – Nanthakumar Victor Emmanuel's Sporting Is Life Blog
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Analysts are saying the deal is part of a larger strategy by Vale Base Metals to grow the value of its nickel and copper holdings in anticipation of the growing demand for battery electric vehicles.
Vale has confirmed it is selling off part of its newly formed Vale Base Metals unit in two separate agreements; 10 per cent of the company going to Saudi Arabia’s Mining Co (Ma’aden) and the Saudi Public Investment Fund (PIF), and three per cent being sold to U.S. investment firm Engine No. 1. The entire deal is valued at $3.4 billion according to a report from Reuters.
Read more at: https://www.sudbury.com/local-news/vale-base-metals-confirms-partial-sell-off-to-saudis-and-the-us-7340328
#SportingIsLife – Nanthakumar Victor Emmanuel's Sporting Is Life Blog