China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
Brazilian miner Vale SA is mulling potential partnerships for its base metals business, chief executive Eduardo Bartolomeo said on Friday, while reiterating that the unit’s assets are not for sale.
Bartolomeo said in a conference call with analysts that a partnership might be a value-unlocking move for the unit. Vale had announced last month a reorganization of its Brazil base metals business, which includes copper and nickel assets.
(By Marta Nogueira; Editing by Steven Grattan)
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