By Jeffrey T. Lewis


SAO PAULO--Vale SA, the world's biggest iron ore producer, said Wednesday it has hired advisors to help unlock value in its base metals operations.

Rio de Janeiro-based Vale said last week that it is transferring its copper-production assets to an existing company owned by Vale, and that it is moving nickel-production assets into a new company.

The Financial Times reported Wednesday that Vale is in talks to sell a minority stake in the copper and nickel businesses. The miner confirmed Wednesday that it had hired advisors, but reiterated that no decision has been made regarding a transaction.

Analysts have said that Vale's share price doesn't reflect the value of its base metals production, even as demand for copper and nickel increases amid the transition towards cleaner energy.

Vale shares were up 2.2% in mid-morning trading Wednesday, while the benchmark Ibovespa stocks index was up 0.2%.


Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com


(END) Dow Jones Newswires

10-05-22 1102ET