Vale Sells Kaolin Producer Cadam to US's KaMin LLC-Shanghai Metals Market

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Vale Sells Kaolin Producer Cadam to US's KaMin LLC

Industry News 10:15:12AM May 08, 2012 Source:SMM

May 7 (Reuters) - Brazilian iron ore mining giant Vale said on Monday it had sold all of its 61.5 percent stake in kaolin clay producer Cadam to privately owned U.S. firm KaMin LLC, for $30.1 million.

Cadam operates an open-pit mine in the state of Amapa in the north of Brazil linked by a pipeline to a nearby processing plant and private port in neighboring Para state. KaMin LLC will pay for the stake over a five-year period, Vale said.

Vale said it was moving out of the kaolin business with the sale and that of Para Pigmentos which it sold off in 2010.


 

Key Words:  iron ore   Vale   kaolin clay   Cadam   Kamin LLC   stake 

Vale Sells Kaolin Producer Cadam to US's KaMin LLC

Industry News 10:15:12AM May 08, 2012 Source:SMM

May 7 (Reuters) - Brazilian iron ore mining giant Vale said on Monday it had sold all of its 61.5 percent stake in kaolin clay producer Cadam to privately owned U.S. firm KaMin LLC, for $30.1 million.

Cadam operates an open-pit mine in the state of Amapa in the north of Brazil linked by a pipeline to a nearby processing plant and private port in neighboring Para state. KaMin LLC will pay for the stake over a five-year period, Vale said.

Vale said it was moving out of the kaolin business with the sale and that of Para Pigmentos which it sold off in 2010.


 

Key Words:  iron ore   Vale   kaolin clay   Cadam   Kamin LLC   stake