Mining major Vale S.A. has entered into an agreement to sell its iron ore, manganese ore and logistics companies that are part of the Midwestern System to J&F Mineração Ltda. The move is in sync with the company’s strategy to simplify its portfolio. The enterprise value of the deal is approximately $1.2 billion. The Midwestern System produced 2.7 mnt of iron ore and 0.2 mnt of manganese ore in 2021.
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