Metals News
Vale Sells Kaolin Producer Cadam to US's KaMin LLC
industry news
10:15AM
May 8,2012
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.


 

iron ore
Vale
kaolin clay
Cadam
Kamin LLC
stake
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