London — Brazilian miner Vale said it is focusing on recovering volumes from iron ore and metals mining, and plans to exit from its steel plant ventures in Brazil.
Vale said it plans a “coordinated exit” for its steel joint ventures, in an investor presentation this week.
Vale has majority stakes in Companhia Siderurgica do Pecem, a slab plant in northeast Brazil, and the Acos Laminados do Para (ALPA) steel project in northern Brazil.
South Korea’s Posco owns 20% in CSP with Dongkuk Steel Mill Co. holding 30%. Vale in 2016 sold its minority stake in Companhia Siderurgica do Atlantico in Rio de Janeiro state to ThyssenKrupp, which sold the plant to Ternium.
Vale said it may develop metallics production in Brazil.
The company may use new technology to potentially supply hot briquetted iron and “green” pig iron into steel mills, adding to its iron ore and pellet sales from its mines and plants.
Vale and Japan’s JFE Steel Corp. each own 50% stakes in California Steel Industries, a re-roller and steel product supplier in the US.
Fonte: S&P Global Platts
