Brazilian mining giant Vale woos UK investors

Brazilian mining giant Vale is hoping a sweeping overhaul of its corporate governance will tempt more UK-based funds to buy into its stock.

The company, which is the world’s largest miner by tonnes produced, is wooing investors with a plan to rationalise all its stock into one class, a move it says will end the dominance of its majority shareholder, a consortium dominated by Brazilian pension funds.

“We already have important knowledgeable mining and metals investors in London, but we feel we can broaden and have a larger investor base, and maybe also larger holdings from the same investors,” Luciano Siani Pires, the firm’s chief financial officer, told The Daily Telegraph.

Around 60pc of Vale’s capital is held abroad, with 15-20pc of that in the UK.

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