NEW YORK, Dec 2 (Reuters) - Brazil’s Vale is considering selling a minority stake in its base metals division through an initial public offering, chief executive Murilo Ferreira said on Tuesday.
Vale is considering an “IPO of a minority stake in base metals division if appropriate market conditions are satisfied,” Ferreira told investors at a strategy day in New York.
“We are not considering to sell the minority stake at IPO at any price - just in case of having a fair price,” he added.
Vale’s base metals division is focused primarily on the production of nickel, a metal used to make steel rust-resistant. (Reporting by Lucas Iberico Lozada; Writing by Stephen Eisenhammer in Rio de Janeiro)