BUZZ-Vale SA: Plans to sell minority stake in base metals unit

miércoles 3 de diciembre de 2014 09:13 GYT
 

** Brazilian miner's shares up 0.48 pct at 18.82 reais; U.S.-listed shares up 2.4 pct at $8.52 premarket

** Company says considering sale of a 30-40 pct stake in base metals unit in IPO to raise funds for key projects amid sliding commodity prices

** Analysts value total base metal unit at $28-$35 bln

** World's largest miners are shedding non-core assets to cope with low base metal prices

** Vale's profit margins have suffered with price of iron ore .IO62-CNI=SI down by half this year

** Up to Tuesday's close, Vale's U.S. stock had fallen 45.4 pct, while Brazil shares down 38.4 pct this year