Vale Divests Aluminium Assets

Brazil’s Vale says its wholly-owned subsidiary Valesul has entered into an agreement to sell its aluminum assets, located in the state of Rio de Janeiro, to Aluminio Nordeste, part of the Metalis group, for $31.2m. The assets include an anode plant, a reduction plant, a smelter, industrial services, admin facilities and inventories. Valesul operated an aluminum smelter with nominal capacity of 95,000 tons per year until last March. It then became a small producer of billets for extrusion using purchased primary ingots and scrap as its main raw materials.