November 29, 2016 / 4:06 PM / 2 years ago

Vale to focus on returns, sees asset sales closing soon

NEW YORK, Nov 29 (Reuters) - Vale SA, the world’s largest iron ore producer, plans to focus strategic actions on improving global ore recovery and price realization as a way to bolster profitability in coming years, executives said on Tuesday.

Rio de Janeiro-based Vale will soon announce the closing of several asset divestitures aimed at helping the company reduce net debt between $15 billion and $17 billion in coming years, Chief Executive Officer Murilo Ferreira said at an annual event with the company’s investors in New York.

Reporting by Christian Plumb; Writing by Guillermo Parra-Bernal and Roberto Samora

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