Midwester integrated operation includes Urucum and Corumbá mines and two plants located in the city of Corumbá, State of Mato Grosso do Sul.
In April 2022, Vale entered into a binding agreement with J&F Mineração Ltda. (“J&F”) for the sale of of all the shares issued by Mineração Corumbaense Reunida S.A., Mineração Mato Grosso S.A., International Iron Company, Inc. and Transbarge Navegación Sociedad Anónima, which hold Vale's iron ore, manganese ore and logistics assets in the Midwestern System. The agreed enterprise value of the transaction is approximately US$1.2 billion for the assets. At closing, we expect to receive approximately US$150 million, in addition to transferring to J&F the obligations related to the take-or-pay logistics contracts, subject to the consent of the applicable counterparties, and other liabilities existing in the transferred assets. |