Vale S.A. (NYSE: VALE) said this week its subsidiary Vale Base Metals had initiated a “strategic review” of its nickel assets in Thompson, Canada. That included the assets’ potential sale.
The company said that it would explore and assess a series of alternatives for the assets, which include two operating underground mines and an adjacent mill.
“The Thompson review is part of a process to optimize Vale Base Metals’ asset base, ensuring the competitiveness of its vertically integrated nickel portfolio,” Vale said in a securities filing.
Stock Performance
The shares of Vale S.A. (VALE) closed 1.01% ($0.09) higher at $8.98 in New York on Friday.
The company’s total market cap now stands at $38.333 billion.
The shares of Vale S.A. (VALE) went down 44.07% in 2024, compared with a 13.32% gain for the benchmark index, NYSE Composite (NYA).
The company’s shares have added 1.24% to their value so far this year.
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