In March, Vale offered its nickel and cobalt operations in New Caledonia, a French territory within the Pacific, to the Prony consortium.
The miner additionally introduced in June that it plans to spend $150 million on extending its mining actions within the Canadian province of Manitoba.
Vale’s newest divestment will give Nucor a majority possession in California Metal and provides the corporate a “robust presence” on the West Coast, Leon Topalian, Nucor’s president, stated in a press launch.
“This acquisition will develop our portfolio of value-added sheet merchandise, present alternatives for elevated inside shipments and allow us to supply our downstream companies within the area resembling Verco and Hannibal Industries with sheet metal merchandise,” stated Topalian.
California Metal has the aptitude to supply almost two million tonnes of metal merchandise a yr and serves clients within the development, service and vitality sectors.
The transaction is anticipated to be accomplished early subsequent yr.
(This text first appeared in The Northern Miner)
