07 May 2012 23:02 [Source: ICIS news]
HOUSTON (ICIS)--Brazil-based miner Vale sold its 61.5% stake in CADAM to KaMin for $30.1m, (€22.9m) the company said on Monday.
The money will be paid in the course of five years, Vale said.
CADAM is a kaolin producer that operates a mine in the state of Amapa, Vale said. The company also operates a processing plant and a private port, both in the state of Para.
Vale sold its stake as part of its larger strategy of improving its portfolio, the company said.
Vale also produces fertilizers.
($1 = €0.76)
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