Vale Base Metals Touts Internal Growth Over M&A and IPO Push

Vale Base Metals executives emphasized a focus on developing existing assets instead of chasing acquisitions at an investor event while downplaying the likelihood of a near-term initial public offering of the Vale SA unit.

“Organic growth is the best way to add value for us,” Vale Base Metals Chief Executive Officer Shaun Usmar told reporters after the company’s first investor day event, held Tuesday in Toronto. “A lot of the consolidation doesn’t necessarily add to immediate increases in volumes that the planet needs.”