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.