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Mineweb reported that Vale (NYSE:VALE) is seeking advice from Barclays on the sale of some or all of its Australian coal assets
Mineweb reported that Vale (NYSE:VALE) is seeking advice from Barclays on the sale of some or all of its Australian coal assets.
As quoted in the market news,
Brazil’s Vale SA has chosen Barclays to advise it on the sale of some or all of its Australian coal assets, two people close to the situation said on Monday, as the company looks to raise money to ride out the commodities rout.
The company needs cash to continue building a giant iron ore mine in the Amazon, as its earnings have been hurt by a slump in prices for most of its key products, led by iron ore.
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