Brazilian miner Vale, development bank BNDES to create $184 mln strategic minerals fund-February 2024-www.financetom.com

Brazilian miner Vale, development bank BNDES to create $184 mln strategic minerals fund

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Brazilian miner Vale, development bank BNDES to create $184 mln strategic minerals fund

Oct 2, 2024 9:36 PM

RIO DE JANEIRO, Oct 2 (Reuters) - Brazilian miner Vale

and state-owned development bank BNDES will create a 1 billion

real ($183.6 million) fund to support local projects with

minerals seen as strategic to decarbonization and the energy

transition, they said on Wednesday.

In a press conference, executives from both groups said

BNDES and Vale will invest up to 250 million reais each in the

fund.

($1 = 5.4458 reais)

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