Vale said Thursday it has raised $3.8 billion in 2016 by selling non-core assets. According to a presentation to investors this Thursday, the amount includes the sale of four very large iron ore carriers (VLOCs), Capesize vessels, as well other assets, including Paragominas and a fertilizer unit.
In 2015, Vale divested about $3 billion worth of assets. The company said it expects to spend $4.5 billion on Capex in 2017 and $4.5 billion in 2018, which is less than what its competitors will reportedly spend.