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Washington /Â AFP
Vale SA is holding discussions with Asian mining companies about a potential sale of a minority stake in its Brazilian iron-ore assets that could fetch as much as $7 bn, according to people familiar with the matter.
The world’s top iron-ore producer may also consider streaming deals, the people said, asking not to be identified as the information is private. No agreements have been reached, and the talks may not result in a deal, the people said.
The Rio de Janeiro-based company joins other global miners such as Freeport-McMoRan Inc., Glencore Plc and Anglo American Plc who are trying to pay down debt through asset sales. Chief Executive Officer Murilo Ferreira raised the prospect of selling some of the company’s most prized assets in February after Vale reported its first year of losses since 1997. The company has said it wants to raise about $10 billion through next year.