SAO PAULO (Reuters) – Brazilian miner Vale SA stated on Monday its subsidiary Vale Canada has signed a deal to promote its 50% stake in steelmaker California Steel Industries to Nucor Corporation for $400 million.
Vale stated in a securities submitting it expects the deal to be concluded in the primary quarter of 2022, including that it underscores its deal with core companies and its dedication to a leaner portfolio. JFE Steel Corp holds the remaining 50% stake in California Steel Industries.
(Reporting by Gabriel Araujo, Editing by Louise Heavens)
