{"id":42238,"date":"2023-07-30T08:58:42","date_gmt":"2023-07-30T12:58:42","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/saudi-arabias-maaden-to-acquire-10-of-brazil-base-metals-firm-statement\/"},"modified":"2023-07-30T08:58:44","modified_gmt":"2023-07-30T12:58:44","slug":"saudi-arabias-maaden-to-acquire-10-of-brazil-base-metals-firm-statement","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42238","title":{"rendered":"Saudi Arabia’s Ma’aden to acquire 10% of Brazil base metals firm – statement"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The logo of the Brazilian mining company Vale SA is seen in Brumadinho, Brazil January 29, 2019. REUTERS\/Adriano Machado\/File Photo<\/span>
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DUBAI (Reuters) – Saudi Arabian Mining Company, known as Ma’aden, has agreed to acquire a 10% stake in Brazil’s base metals company Vale, it said in a bourse statement on Sunday, as part of a strategy to invest in global mining assets.<\/p>\n

Ma’aden, through Manara, its joint venture established with the Public Investment Fund, on Thursday signed a binding agreement to acquire the 10% stake in Vale Base Metals, based on an enterprise value of $26 billion. <\/p>\n

“Manara\u2019s investment into Vale will play a key role in helping it expand the production of and nickel across its asset portfolio, which are critical to the development of new technologies that will benefit the global energy transition,” the company statement said.<\/p>\n

The transaction, which will be financed by Ma’aden’s own resources, is subject to regulatory approvals and expected to be completed in the first quarter of 2024. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The logo of the Brazilian mining company Vale SA is seen in Brumadinho, Brazil January 29, 2019. REUTERS\/Adriano Machado\/File Photo DUBAI (Reuters) – Saudi Arabian Mining Company, known as Ma’aden, has agreed to acquire a 10% stake in Brazil’s base metals company Vale, it said in a bourse statement on Sunday, […]<\/p>\n","protected":false},"author":1,"featured_media":2403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-42238","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nSaudi Arabia's Ma'aden to acquire 10% of Brazil base metals firm - statement | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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