Reportedly, the Brazilian mining giant Vale is planning to reduce costs and decrease capital spending by selling its minority interest of a 26.9% stake in its business of steel, coal and fertilizer in CSA Plant. The Plant is majority-owned by ThyssenKrupp and is primarily used to supply steel slabs for ThyssenKrupp's recently-announced sale of Alabama's factilities in the US. The plant has been put into operation since 2010 but has yet to be profitable due to cost overruns and technical difficulties as reported. The move is a part of Vale's plan to focus on its core iron ore business combining the company's recent announcement of reducing investments in 2014.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67649&division=A6
