Vale ADRs Higher

Vale ADRs Higher

American depository shares of Vale SA (VALE) were up 1.6% in recent trade after Spain’s Emerita agreed to acquire the Salobro zinc project in Brazil from the company and IMS Engenharia Mineral. As part of the deal, Emerita has agreed to set up a Brazilian subsidiary to formally acquire the Salobro Project from IMS, the company said on Friday. Emerita will pay Vale $6.5 million in cash over seven years. […]

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