After Brasil’s Vale sold assets worth $5bn this year it continues to sell…

The world’s top iron ore producer said in a statement that the two transactions were consistent with its efforts to streamline its operations and maximise returns for its shareholders.

It said it would sell its 31.3% stake in Log-In Logistica Intermodal, a Brazilian logistics company, with an initial price per share of $3.40.

According to the economic daily Valor, the sale could bring in nearly $100mn.

Vale also announced yesterday the sale of its 44.25% stake in Fosbrasil, located in Sao Paulo state, to Israel Chemicals Ltd for $52mn.

It said the transaction was part of its strategy to give priority to investments in world-class strategic assets and was “a further step in the process of streamlining its portfolio.”

The tonne of iron ore reached $180 in 2011 but it will sell between $100 and 140 in the next two years, according to experts.

This year, Vale sold assets worth $5bn, including its stake in Norway’s Norsk Hydro aluminum producer for $1.6bn in November.

Last week, it also sold for $100mn its stake in the Norte Energia consortium in charge of building the Belo Monte dam in the Amazon.

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