Vale shares shed $17 billion as iron ore slump foils turnaround
The miner has lost its rank as Brazil’s third-largest publicly traded company.
NEW YORK, Dec 6 (Reuters) – Brazilian miner Vale SA expects to sell up to $1.5 billion in non-core assets from 2018 to 2020, the company said in a presentation to investors in New York on Wednesday.
It expects to divest stakes in companies such as Brazilian bauxite producer Mineração Rio do Norte, Australian coal project Eagle Downs, and steel firm California Steel Industries Inc.
(Reporting by Christian Plumb, Editing by Rosalba O’Brien)
