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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
04/20/201506:07:28Report of Foreign Issuer (6-k)
04/20/201506:07:27Report of Foreign Issuer (6-k)
04/15/201506:02:17Report of Foreign Issuer (6-k)
04/14/201510:08:35Fortescue Overhauls Worker Rosters to Cut Costs -- Update
04/14/201507:58:25S&P warns on global miners including BHP, Rio, Vale
04/13/201518:09:28ADR Shares End Lower; Alcatel-Lucent, Nokia Shares Rise
04/10/201520:45:45Better Late Than Never, Cuba Attends
04/10/201506:02:14Report of Foreign Issuer (6-k)
04/08/201506:02:52Report of Foreign Issuer (6-k)
04/07/201516:30:15Report of Foreign Issuer (6-k)
04/02/201511:31:23Iron Ore's Meltdown Raises Questions About Miners
04/01/201509:40:23Report of Foreign Issuer (6-k)
03/31/201509:11:46Iron Ore Miners Rio, BHP And Vale Race To The Bottom, Steel Prices...
03/27/201518:28:00Vale should sell stake in Carajas iron ore mine, analyst says
03/27/201510:36:08Petrobras Nominates Vale CEO as Its Next Chairman--Update
03/27/201510:10:48Petrobras Nominates Vale CEO as Its Next Chairman
03/27/201510:00:21Petrobras Nominates Vale CEO as Its Next Chairman
03/27/201508:04:18Why Fortescue Metals' Call For Cap On Iron Ore Production Will...
03/24/201517:40:07Brazilian Real Strengthens After S&P Ratings Decision; Shares...
03/24/201507:11:27Vale: Near-Term Prospects Remain Bleak

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