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Vale signs agreement to purchase New Steel

Rio de Janeiro – WEBWIRE

Vale S.A. (Vale) informs that it entered into an agreement with Hankoe FIP to buy New Steel, a company that develops innovative iron ore beneficiation technologies and currently owns patents of dry processing concentration (Fines Dry Magnetic Separation - FDMS) in 56 countries. The purchase price is US$ 500 million and the transaction is expected to occur in 2019, subject to certain conditions precedent, including approval by antitrust authorities in Brazil. 

This technology will support the development of Vale’s high grade pellet feed initiatives, including the Southeastern System 20 Mtpy pellet feed project.


This press release may include statements that present Vale’s expectations about future events or results. All statements, when based upon expectations about the future, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM), and the French Autorité des Marchés Financiers (AMF), and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F.

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