Vale mulls base metals spinoff to tap EV market
Vale’s Voisey’s Bay nickel-cobalt-copper mine in Labrador, where Cobalt 27 Capital holds a cobalt stream. Credit: Vale.
Vale (NYSE: VALE), the world’s no.1 nickel producer, is evaluating a potential spinoff of its base metals division as part of the miner’s growing interest in the electric vehicles (EV) sector.
The company, which is said to be in talks with Tesla and other EV supply chain actors about securing nickel from its Canadian operations, is in the midst of expanding its Voisey’s Bay site in the province of Newfoundland and Labrador.
RIO DE JANEIRO, BRAZIL - Vórtx fintech, which offers infrastructure for the financial market, has just invested in Rio de Janeiro-based company Investtools, which develops technology solutions for over 40 Brazilian management companies, totaling more than R$122 (US$22.4) billion in assets under management.
The value of the transaction has not been disclosed, but Vórtx has a 20% stake in the startup and may hold up to 25% of the business in the . . .
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Brazilian miner Vale s Q1 production figures bring relief to the market
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