Mergers & Acquisitions ·
Vale S.A. confirmed it entered into an agreement to acquire a 30% minority interest in Ligga S.A., the operator of the…
VALEVale S.A.
Vale S.A. confirmed it entered into an agreement to acquire a 30% minority interest in Ligga S.A., the operator of the Ferro Sul iron ore mine in Brazil's Carajás region, through a capital contribution of approximately US$190 million. The transaction includes a long-term exclusive offtake agreement for 100% of Ligga’s sinter feed production and supports an expansion plan to increase output from 2 million to 8 million metric tons per year by June 2028. Vale stated the acquisition does not constitute a Material Fact under Brazilian regulations, though it responded to inquiries from the CVM regarding media reports on the deal. Vale S.A. is a global mining company primarily engaged in the extraction and export of iron ore.