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Several firms on strategic partnership for Vale’s energy transition

August 29th, 2023

Demarest and Cleary Gottlieb advised Vale; Pinheiro Neto Advogados and Dorsey & Whitney LLP advised Manara Minerals with the execution of a binding agreement, a joint venture between Ma’aden, Saudi Arabian state-owned mining company and PIF, sovereign wealth fund of the same country, under which Manara Minerals will invest in Vale Base Metals Limited, the holding entity of Vale’s energy transition metals business, at an implied enterprise value of US$ 26 billion.