Vale denied a report on Wednesday that it was negotiating a sale of fertiliser assets to Norway’s Yara International as the Brazilian miner seeks to raise cash following its biggest quarterly loss in decades.
Valor Economico, a Brazilian business newspaper, reported Vale could sell a minority stake in its fertiliser unit by the end of the year and suggested the Norwegian firm would be a good match for the assets. Citing unnamed sources, Valor said the deal could yield Vale $1.2-billion.
