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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
07/28/201619:18:00Correction to Billiton Brazil Dam Article
07/28/201612:07:19Report of Foreign Issuer (6-k)
07/28/201609:10:08Report of Foreign Issuer (6-k)
07/28/201608:58:00Brazil's Vale Profit Declines 34%
07/28/201606:26:00Brazil's Vale 2Q Net Profit Declines 34% At $1.1 Billion
07/28/201606:07:18Report of Foreign Issuer (6-k)
07/28/201606:07:16Report of Foreign Issuer (6-k)
07/28/201606:04:29Report of Foreign Issuer (6-k)
07/28/201606:04:28Report of Foreign Issuer (6-k)
07/27/201623:30:00BHP Billiton to Take $1 Billion Profit Hit From Brazil Dam Charges
07/21/201609:02:42Report of Foreign Issuer (6-k)
07/21/201608:23:00Brazil's Vale Iron Ore Output Falls in Second Quarter
07/19/201623:20:00BHP Billiton's Iron Ore Production Shows No Signs of Slowing
07/15/201606:03:08Report of Foreign Issuer (6-k)
07/12/201606:03:35Report of Foreign Issuer (6-k)
07/08/201616:41:30Report of Foreign Issuer (6-k)
07/05/201611:23:38Report of Foreign Issuer (6-k)
07/05/201611:22:40Report of Foreign Issuer (6-k)
07/01/201613:44:47Report of Foreign Issuer (6-k)
07/01/201613:43:54Report of Foreign Issuer (6-k)

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