Vale on Thursday announced a binding agreement with Ananke Alumina, a subsidiary of Norsk Hydro, to sell its 40% stake in Mineração Rio do Norte (MRN).
MRN is Brazil’s largest bauxite producer and exporter, located in the Porto de Trombetas region in western Para. The company is a joint venture between Vale (40%), South32 (33%), Rio Tinto (12%), CBA (10%), and Hydro (5%).
The value of the deal was not disclosed.
(By Leticia Fucuchima and Steven Grattan; Editing by Bernadette Baum)
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