{"id":83950,"date":"2024-05-02T00:00:00","date_gmt":"2024-05-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/05\/02\/maaden-and-pif-close-10-stake-acquisition-in-vale-base-metals\/"},"modified":"2024-05-02T00:00:00","modified_gmt":"2024-05-02T00:00:00","slug":"maaden-and-pif-close-10-stake-acquisition-in-vale-base-metals","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/05\/02\/maaden-and-pif-close-10-stake-acquisition-in-vale-base-metals\/","title":{"rendered":"Ma\u2019aden and PIF close 10% stake acquisition in Vale Base Metals"},"content":{"rendered":"

Ma\u2019aden + PIF JV takes 10% stake in Vale: <\/strong>Manara Minerals, a JV between Saudi Arabian Mining (Ma\u2019aden) and the Public Investment Fund (PIF) set up for international mining investment, completed the acquisition of a minority stake<\/a> in Brazilian miner Vale Base Metals (VBM). Manara is 51% owned by Ma\u2019aden, and 49% owned by PIF. The transaction is worth an estimated USD 2.6 bn, based on a USD 26 bn enterprise value VBM had previously disclosed<\/a>. <\/p>\n

What\u2019s in it for Manara:<\/strong> The acquisition \u201cwill play a key role\u201d in Manara\u2019s copper and nickel production expansion, it said in an earlier disclosure<\/a>. The Ma\u2019aden-PIF JV could deploy USD 15 bn in the coming years, sources said<\/a> in January of last year. <\/p>\n

REMEMBER-<\/strong> Copper, cobalt, nickel, and lithium \u2014 critical minerals for EV and battery storage production \u2014 are expected to see a massive jump in demand in the coming years as countries roll out their plans for energy transition.<\/p>\n

This has been in the works: <\/strong>PIF has been reportedly in advanced talks<\/a> with Vale over a minority stake acquisition through Manara since as far back as June of last year, which was contested by the likes of Japan\u2019s Mitsui & Co and the Qatar Investment Authority. The agreement was finalized<\/a> through a binding agreement the following month. <\/p>\n

About Vale: <\/strong>VBM has \u201cworld-leading mining jurisdictions,\u201d in places like Canada, Brazil and Indonesia. It is also Vale\u2019s holding arm for energy transition metals, boasting supply chains for nickel, copper, and cobalt, which Manara will gain access to, according to a PIF statement<\/a>. Vale also signed an agreement<\/a> in January with The Royal Commission for Jubail and Yanbu to set up a green iron ore briquettes production plant in the Kingdom. <\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction is worth an estimated USD 2.6 bn<\/p>\n","protected":false},"author":1,"featured_media":83951,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[11,79,219,196,159],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseclimate","tag-ma-watch","tag-maaden","tag-mining","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"4dd5d84a-633a-4654-88a4-7a4a9e2956ca","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/489.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Ma\u2019aden and PIF close 10% stake acquisition in Vale Base Metals","related_issue":[83945],"teaser":"The transaction is worth an estimated USD 2.6 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.8dffd649-4a81-4624-981c-625394278de6.mp3"},"yoast_head":"\nMa\u2019aden and PIF close 10% stake acquisition in Vale Base Metals - 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