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Vale agrees to sell stake in nickel business in New Caledonia; Tesla becomes technical partner

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Acquisition, divestment & Spinoff

New Caledonia provincial authorities and other local interests to hold 51% stake, Trafigura 19%

Political leaders in New Caledonia have agreed to new terms for the sale of Vale’s nickel business, including a majority stake holding for local interests, alongside forming a “technical and industrial partnership” with Tesla, according to a Reuters report.

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