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Vale completes sale of 10% stake in base metals unit to Manara

Deal for a 3% stake with Engine No. 1 falls through

Isabeau van Halm
Saudi Arabia's Ma'aden and Public Investment Fund created Manara Minerals in 2023. Credit: Ma'aden

Saudi Arabia's Ma'aden and Public Investment Fund created Manara Minerals in 2023. Credit: Ma'aden

Vale announced it completed the US$2.5 billion sale of 10% of its base metals unit to Manara Minerals, a joint venture between Ma'aden and Saudi Arabia's Public Investment Fund. The deal was announced...

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