Vale statement on VNC

During its report to the market on December 2 at Vale Day at the New York Stock Exchange, Vale announced that Vale New Caledonia has been determined to be ‘non-core’ to the company’s business. Accordingly, Vale is looking to exit its VNC operations in a responsible manner that best preserves the interest of employees and other stakeholders in New Caledonia. 

To that end, the company has initiated with the management of VNC a process to explore strategic options for Vale New Caledonia (“VNC”) and has engaged Rothschild & Co. as a financial adviser to assist. 

The review process will explore a range of options with a focus on keeping the operation sustainable, socially and environmentally responsible, and open under new ownership; this process is expected to continue through the first half of 2020.