The Bolsonaro government is reportedly mulling selling shares it owns in domestic iron ore producer Vale, according to media reports.
Litel Participações, which is owned by several state-run funds, owns 20 percent of Vale.
BNDESPar, the investment arm of state-run development bank BNDES, owns another 6 percent stake in the miner.
Fabio Schvartsman, Vale’s former CEO, whom was ousted from power following the Brumadinho disaster, criticized in 2017 the government influence and participation at Vale as a shareholder.
He said at the time the government’s involvement in the business had a “terrible potential for value destruction.”
The media reports didn’t provide further details on how much stock either Litel or BNDESPar could sell at Vale.