The company has approached Mark Cutifani, a former chief executive officer of Anglo American Plc, about becoming chair of the base metals business, the people said. Vale is also considering other options and there’s no guarantee Cutifani will be offered the job or accept it, according to the people. There is also no guarantee the listing or spinoff will go ahead, they said.
Vale declined to comment.
Vale, which makes most of its money from iron ore, has spent years trying to unlock what it sees as hidden value within its copper and nickel mines in Canada, Brazil and Indonesia. Demand for the battery metals is set to boom as the world moves away from fossil fuels.
General Motors Co., Mitsui & Co. and Saudi Arabia’s Public Investment Fund are weighing offers for the 10% stake, people with knowledge of the matter said earlier. Automakers are among Vale’s main clients as they try to secure access to strategically important…
