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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
09/04/201516:04:10Report of Foreign Issuer (6-k)
09/02/201507:45:17Report of Foreign Issuer (6-k)
09/01/201514:13:12Report of Foreign Issuer (6-k)
08/24/201517:37:00ADRs End Lower; Chinese, Commodities Firms Decline
08/24/201504:20:00Turbo Power Systems to Get New Parent; Strategic Review Continues
08/14/201513:02:52Report of Foreign Issuer (6-k)
08/13/201510:50:37Vale to Investigate Nitrous Oxide Leak at Northern Ontario Nickel...
08/11/201517:50:53ADRs End Lower; Miners, Steelmakers Among Decliners
08/06/201506:04:45Report of Foreign Issuer (6-k)
08/05/201516:30:55Report of Foreign Issuer (6-k)
07/30/201510:11:19Brazil's Vale Posts $1.68 Billion Profit--3rd Update
07/30/201510:09:35Report of Foreign Issuer (6-k)
07/30/201510:09:09Report of Foreign Issuer (6-k)
07/30/201509:43:36Brazil's Vale Sells Minority Stake In MBR For BRL4 Billion
07/30/201508:33:59Brazil's Vale Posts $1.68 Billion Profit--2nd Update
07/30/201508:07:09Report of Foreign Issuer (6-k)
07/30/201507:38:05Brazil's Vale Posts $1.68 Billion Profit--Update
07/30/201506:59:15Report of Foreign Issuer (6-k)
07/30/201506:09:27Report of Foreign Issuer (6-k)
07/30/201506:09:26Report of Foreign Issuer (6-k)

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