Vale incorporating companies to reduce costs

Friday, 12 February 2021 19:45:02 (GMT+3)   |   Sao Paulo

Brazilian miner and iron ore producer Vale said it will incorporate several companies to simplify shareholding structures and reduce costs.

The miner said it will incorporate into Vale the following companies: Companhia Paulista de Ferro Ligas, Valesul Aluminio SA and Minerações Brasileiras Reunidas S.A (MBR).

Companhia Paulista de Ferro Ligas is a ferroalloys producer, producing ferromanganese, ferrosilicon, silicomanganese and other special alloy products.

Minerações Brasileiras Reunidas S.A (MBR) is an iron ore producer, which also own iron ore logistics assets.

Vale sold a minority stake at MBR in 2019. Vale owns 98.3 percent of MBR.

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