SAO PAULO, April 30 (Reuters) - Brazilian miner Vale

said on Tuesday it concluded the sale of 10% of Vale

Base Metals to Manara Minerals for $2.5 billion, according to a

securities filing.

Vale and Manara Minerals, a joint venture between Saudi

Arabian Mining Company, known as Ma'aden, and Saudi

Arabia's Public Investment Fund, signed last July a binding

agreement for the deal.

Vale also said on Tuesday a previous agreement with

U.S.-based investment firm Engine No. 1, under which Engine

would own a 3% equity stake in Vale Base Metals, has not

advanced.

"Following further negotiations in recent months, both

sides have agreed not to move forward with the previously agreed

terms and conditions but remain open to future partnerships",

Vale said about the talks with Engine.