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Options could also include forging partnerships or putting some assets in care and maintenance, company says
Vale is eyeing options amid current market challenges that could include full or partial divestment of some nickel operations. Last week, the Brazilian company’s chief executive told reporters that an oversupply of the metal from Indonesia is causing short-term issues that necessitate a serious look at how to keep this side of its business profitable.
“We are evaluating if some assets in the portfolio could have a strategic alternative,” said Gustavo Pimenta, according to a Reuters story. Options could include selling off nickel holdings, forging partnerships or putting some assets in care and maintenance, the Vale head indicated.
Vale and Glencore, the other major mining company operating in the Sudbury region, have explored and continue to consider a potential partnership or merger of their Sudbury operations. Such a collaboration would seek to combine assets, share infrastructure, and potentially reduce costs. While discussions have been ongoing, a formal agreement has not been reached.
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