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Brazil’s Vale sells New Caledonia assets to Trafigura

RIO DE JANEIRO, March 31 (Reuters) - Brazilian miner Vale SA has concluded the sale of its nickel mining assets on the Pacific island of New Caledonia to a consortium including global commodity trader Trafigura, the company said in a Wednesday securities filing. The exact terms were not disclosed, but Vale said that $1.1 billion will be invested in the New Caledonia assets, with $555 million coming from its subsidiary Vale Canada Ltd. Vale will have a supply contract to off-take part of the nickel produced, the company said. (Reporting...
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The king of nickel is betting big on a green future in batteries

Chinese company Tsingshan Holding Group Co. shocked the nickel market twice this month by targeting two significant challenges for makers of electric vehicles and their batteries: first, getting enough nickel, and second, ensuring it’s delivered in a climate-friendly way Tsingshan Holding Group Co. made numerous bold moves on its path to becoming the world’s largest nickel producer, but its new plan to supply carmakers with cheap, clean metal could be its biggest breakthrough yet. The Chinese company shocked the nickel market twice this month by targeting two significant challenges for...