VALE may spin off base metals businessTheir base metals biz was buried under too much iron ore for investors to profit from it.
>>>(Bloomberg) -- Vale SA, the world’s second-largest iron ore producer, is exploring spinning off of its base metals business as the global transition to clean energy and transport spurs demand for copper and nickel. “We are in a phase of studying -- analyzing the possibility,” Chief Executive Officer Eduardo De Salles Bartolomeo told analysts on a conference call Tuesday. The Rio de Janeiro-based miner, which is recovering from an iron-ore tailings disaster in 2019, continues to trade at a discount to its Australian-focused rivals BHP Group and Rio Tinto Group. Housing base metals operations in Canada, Brazil and Indonesia in a separate company may help unlock value as the company expands copper and nickel output and exits coal.
https://finance.yahoo.com/news/battery-boom-prompts-iron-giant-220847132.html