According to media reports citing people familiar with the matter, in order to ensure the supply of key metals in the electric vehicle industry chain, General Motors is competing for a stake in Vale's base metals business.
Brazilian mining giant Vale announced in December 2022 that it was preparing to separate its iron ore business from base metal businesses such as nickel and copper, and planned to set up a company called "Vale Base Metals" and sell a small portion of its shares to global investors
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