Vale SA (VALE) has released an update.
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Vale S.A., a major player in the mining industry, has officially communicated a significant transaction with related parties, Cosan Lubrificantes e Especialidades S.A. and Neolubes Industria Lubrificantes Ltda, involving the sale of lubricants and specialty greases. The deal, not fixed in value, is estimated at around R$159.0 million and is part of a competitive process involving 15 suppliers, ensuring compliance with Vale’s Related Party Transactions Policy. The agreement, which will span from July 2024 to June 2027, was thoroughly vetted by Vale’s Board of Directors, excluding any member with a potential conflict of interest.
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