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Vale forms $1.9B JV with power company

  • Vale (VALE) has agreed to create a hydroelectric-power joint venture with Brazilian power company Cemig (CIG), with Vale to own 55% and Cemig 45%.
  • The JV is valued at 4.5B Brazilian reais ($1.88B) and comprises six plants. (PR)
  • Vale also plans to sell part of its holding in a controversial hydroelectric dam in the Amazon. (PR)
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