Vale to sell partial stake in CSA

Tuesday, 10 December 2013 01:53:05 (GMT+3)   |   San Diego
       

According to a Monday report from Forbes, Brazilian mining giant Vale is planning to sell partial stakes in its steel, coal and fertilizer businesses in order to reduce costs and decrease capital spending.  The steel stake up for grabs is the company's minority interest (a 26.9 percent stake) in Brazilian steel plant CSA, which is majority-owned by ThyssenKrupp (the recently-announced sale of Thyssenkrupp's Calvert, Alabama facility uses primarily steel slabs produced at CSA).  The plant started operations in 2010 but has yet to turn a profit due to reported cost overruns and technical difficulties.

Combined with Vale's recent announcement that it would spend less on investments in 2014, the move is part of the company's plan to focus on its core iron ore business.


Similar articles

Trade revives somewhat for Asian slabs, ex-Russia allocation still limited

17 Apr | Flats and Slab

Prices decline slightly for Brazilian slab exports

16 Apr | Flats and Slab

Prices stable for Brazilian slab exports

10 Apr | Flats and Slab

Iran’s steel exports up 6.6 percent in last Iranian year

08 Apr | Steel News

US slab imports up 3.8 percent in February

01 Apr | Steel News

Prices decline for Brazilian slab export deals

01 Apr | Flats and Slab

Ex-Asia slab prices differ depending on destination, more declines expected

28 Mar | Flats and Slab

Prices stable for Brazilian slab export deals

26 Mar | Flats and Slab

Slab prices keep softening, though Asian flat steel market improves

22 Mar | Flats and Slab

Iran’s steel exports up 7.6 percent in first 11 months of Iranian year

20 Mar | Steel News