PIF, Ma’aden buy 10% of Brazilian Vale’s base metal unit
- Date: 29-Jul-2023
- Source: Eye of Riyadh
- Sector:Oil & Gas
- Country:Saudi Arabia
PIF, Ma’aden buy 10% of Brazilian Vale’s base metal unit
Brazilian miner Vale signed a binding agreement with Manara Minerals, the joint venture between the Public Investment Fund (PIF) and Saudi Arabian Mining Co. (Maaden), to acquire a 10% stake in the former’s base metal unit. In a statement, Vale said it also sealed an agreement with the US investment firm Engine No. 1 to acquire 3% of the base metal unit. Both agreements are
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