Vale has entered into a 30-day exclusivity agreement to discuss the sale of nickel-cobalt operation Vale New Caledonia (VNC) with a consortium comprised of current management and employees of the unit, as well as state investors and Swiss trading firm Trafigura, the Brazilian mining company said on Wednesday November 4.
Vale's subsidiary Vale Canada is carrying out negotiations, which include, "outstanding requirements to support the transition and continuity of VNC operations to the new ownership structure," the company said.According to Vale, VNC's management and workforce is leading the consortium with support from the New...