A senior executive at Brazilian miner and iron ore producer Vale said the company should avoid big acquisitions.
According to Estadao, Vale’s CFO, Luciano Siani, said the company has other priorities at the moment, and should avoid big acquisitions.
However, it could eventually make smaller transactions, such as buying smaller iron ore mine, the media report said.
As Vale maintains lower Capex spending estimates as compared to 2019, investors expect the company could eventually pay dividends.
Vale halted the payment of dividends since the Brumadinho dam tragedy in January 25, 2019.