Vale’s recently installed CEO, Fabio Schvartsman, said he aims to lead the Brazilian iron ore producer into a new phase of growth via acquisitions and diversification.
The new CEO, who assumed office this week, said the company should focus its efforts into a new expansion phase, looking mainly at mergers and acquisitions as well as to new strategies to diversify the miner’s portfolio. Vale’s core business is iron ore.
Schvartsman noted that “having all the eggs under the same basket” may represent as a risk for Vale in the long term, even despite the high quality and profitability of its iron ore assets.
While assuming the CEO seat, Schvartsman also made it clear Vale will reduce the interference of the government in the company.