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Brazil's Vale Sells Stake In Cadam; Exits Kaolin Business

DOW JONES NEWSWIRES RIO DE JANEIRO -(Dow Jones)- Brazilian mining company Vale SA (VALE, VALE5.BR) said Monday it has sold its 61.5% stake in kaolin producer Cadam SA to KaMin LLC, a privately owned U.S. company, for $30.1 million. The sale marks Vale's exit from the kaolin business, as part of a move to optimize its assets portfolio, the company said in a statement. Cadam is a kaolin producer that operates an open-pit mine in the state of Amapa, and a processing plant and a private port, in the state of Para, all in north Brazil. The mine and the plant are linked via a 5.8-kilometer pipeline. Kaolin, a type of clay, is an industrial mineral used in production of ceramics, refractory bricks, pigments and coatings. Vale, which also sold kaolin producer Para Pigmentos SA in 2010, said it will receive payment for the sale of its controlling stake in Cadam over five years. Vale in recent years has increased investments in metals including nickel, copper and coal, as well as in the logistics and energy areas, diversifying from iron ore, which still forms the major part of its business. -By Diana Kinch, Dow Jones Newswires, 55 21 7564 4495 diana.kinch@dowjones.com

Stock News for Companhia Vale Do Rio Doce (VALE)
DateTimeHeadline
03/27/201706:09:47Report of Foreign Issuer (6-k)
03/27/201706:08:35Report of Foreign Issuer (6-k)
03/21/201714:30:30Amended Report of Foreign Issuer (6-k/a)
03/21/201706:09:13Report of Foreign Issuer (6-k)
03/17/201706:03:41Report of Foreign Issuer (6-k)
03/16/201721:06:00Judge Suspends Lawsuit Against Firms Involved in 2015 Brazilian...
03/16/201706:05:15Report of Foreign Issuer (6-k)
03/10/201708:57:35Report of Foreign Issuer (6-k)
03/08/201717:22:00ADRs End Lower; Petrobras Trades Actively
03/03/201712:34:16Report of Foreign Issuer (6-k)
02/25/201703:02:00Vale's CEO to Exit Amid Political Pressure -- WSJ
02/24/201717:04:18Report of Foreign Issuer (6-k)
02/24/201716:52:00ADRs End Lower; Baidu, Grana y Montero Trade Actively
02/24/201713:09:06Report of Foreign Issuer (6-k)
02/24/201713:07:00Vale CEO Murilo Ferreira to Step Down in May -- 2nd Update
02/24/201710:39:00Correction to Vale CEO Story
02/24/201709:49:00Vale CEO Murilo Ferreira to Step Down in May -- Update
02/24/201708:51:00Vale CEO Murilo Ferreira to Step Down in May
02/23/201715:34:00Vale Dusts Off Crystal Ball, Sees $70-$75 'Floor' for Iron Ore
02/23/201708:10:47Report of Foreign Issuer (6-k)

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