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Vale: progress update on negotiating the sale of New Caledonia project
Jul 29,2020 15:01CST
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Source:SMM
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SMM7 March 29th: on July 28th, Vale issued a "Vale Renewal negotiation on the Sale of the exclusive right of Vale New Caledonia" announcement. Vale (Vale) entered exclusive negotiations on the Vale New Caledonia (Vale New Caledonia) deal. And inform Vale Canada Limited (VCL) and New Century Resources Co., Ltd. (NCZ) to enter into a negotiated agreement to extend the sale of their ownership in ValeNouvelle- el é donie SAS (VNC) for 45 days, so that NCZ can complete due diligence and negotiate transaction documents.

Under the current non-binding form, the financing structure includes donations of about $900m from various parties, including about $500m through VCL's trust scheme, and the French government's existing $200m ou loan NCZ receives $200m through debt financing, off-take financing and third-party strategic investments at VNC level.

According to the announcement, VCL will retain a potential contribution of approximately US $500m in Vale's consolidated financial statements, which will not be retained by VCL in Vale's consolidated financial statements until the VNC working Committee has negotiated in advance, negotiated and signed the final transaction document.

Vale reaffirms its commitment with shareholders to transform the base metals business, simplify future production processes and make possible a sustained focus on core assets, while fulfilling its new convention with society, contribute to the maintenance of a sustainable environment to ensure safe operational continuity.

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