Vale has completed its acquisition of Baoshan's stake in the Baovale joint venture, taking full control of the Água Limpa iron ore project in Brazil. The deal, signed in January and currently under review by CADE, sees Vale assume complete ownership after exercising a pre-existing right to purchase the remaining 50% stake.
Vale has acquired Baoshan 's 50% stake in the Baovale joint venture , gaining full ownership of the iron ore project in Brazil . The joint venture , established in 2001, included a provision for Vale to purchase the remaining 50% stake 20 years after its inception. This deal, signed in January, is currently undergoing review by the Brazil ian Administrative Council for Economic Defense ( CADE ).
While the financial details of the acquisition were not disclosed, Vale reported a value of 135 million Brazilian reais (approximately US$23 million) for the 50% stake in the project during the September quarter of 2024. At the joint venture's formation, each company invested US$19 million, totaling US$38 million. The joint venture assets encompass a mine and processing plant within the Água Limpa complex. Vale has already been operating the mine and paying Baovale a fixed annual amount for the right to do so. Vale stated that the consolidation of ownership would not affect operations, as the Água Limpa mine was already under their full control.
Vale Baoshan Acquisition Iron Ore Brazil Água Limpa Joint Venture CADE
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