Brazilian miner and iron ore producer Vale may disinvest in slab producer Companhia Siderurgica do Pecem (CSP), a media report said this week.
According to newspaper O Povo, a Vale’s audit by KPMG said there’s a “relevant uncertainty” over CSP’s capacity to continue operating. CSP is a local joint venture between Vale, Dongkuk Steel, and Posco.
The media report said CSP reported a combined net loss of BRL 149.5 million in 2016 and 2017. KPMG’s audit was made available in August, the media report said.