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Vale considers raising stake in power generation company - report

|About: Vale S.A. (VALE)|By: , SA News Editor

Vale (VALE +1.1%) is in talks to increase its stake in Alianca Energia, a Brazilian energy generation and trading joint venture with Cemig (CIG +2.1%) set up in 2015, newspaper Valor Economico reports.

Vale is a majority owner in Alianca Energia with a 55% stake, while CIG owns 45% of the venture.

In a Brazilian securities filing, Vale says it is in discussions with financial advisers to evaluate potential opportunities in line with its energy production strategy, which includes a goal of producing 100% of the energy it needs from clean sources through 2030.

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