Vale Concludes Sale in Tres Valles
OREANDA-NEWS. Vale has completed the sale of Sociedad Contractual Minera Tres Valles (Tres Valles) for USD 25 million to Inversiones Porto San Giorgio S.A (ISG) - a company controlled by the Chilean group Vecchiola S.A.
Tres Valles is a producer of copper cathode in the region of Coquimbo in Chile. The transaction includes Vale?s 90% stake in Tres Valles total capital and certain mining rights held by Vale in the region of Coquimbo. Tres Valles has underground and open-pit mines and capacity to produce 18,500 metric tons per year of copper cathode.
This transaction is consistent with Vale?s strategy of focusing on world-class assets, with scale compatible with its existing operations.