Vale acquires Oman’s OQ 30% stake in Vale Oman

The cautious outlook comes as global exploration budgets for nonferrous metals declined by 3% in 2024 to $12.5 billion from $12.9 billion last year, with juniors bearing the brunt of the cuts.

The world’s largest zinc smelter has been caught up for months in a fight between its largest shareholders over strategy and direction.

Adaro is spinning off the coal mining unit valued at $2.45 billion to focus on developing cleaner energy, with an aluminum smelter being built in Kalimantan.

The plant will process nickel laterite ore from the Vale unit into 66,000 tons of mixed hydroxide precipitate annually.