Brazil’s Vale has approved the merger of its manganese and silicon mining unit Companhia Paulista de Ferro Ligas with its aluminum unit Valesul Alumínio, to reduce costs, streamline its corporate structure, and strengthen its assets.
The South American company also approved the partial split of Minerações Brasileiras Reunidas (MBR), it said in a filing in the securities and exchange commission last week without disclosing further details.
Companhia Paulista de Ferro Ligas produces manganese standard and low carbon, molybdenum, and silicon manganese among other ores, while Valesul Alumínio, which is based in Rio de Janeiro, Brazil, produces aluminum products with an annual capacity of 95,000mt.
Brazil’s exports of aluminum ores and concentrates rose by 56.4pc to 422,564mt in January, from 270,187mt shipped in the same month of 2020.