Vale to announce new CEO by December 3

The study is due by the end of 2024 or early 2025.

Decisions to mothball loss-making operations could be made within the next six months.

Polyus's net profit rose 12% to $1.7 billion last year thanks to increased production and sales.

The company said it expected lithium sales volumes to increase 5%-10% this year.

The changes led by CEO Mike Henry will see several specialist teams disbanded and their functions reassigned in a bid to cut costs and simplify operations.

CEO Graham Kerr said the deal will streamline the company's portfolio and unlock capital to invest in development projects in copper and zinc.

The miner will extend Mponeng’s life from seven to 20 years.

In 2023, the Çöpler mine produced 220,999 gold ounces.

Brazil's government was reported by local media as trying to interfere in Vale's succession.