April 26, 2018 / 2:34 PM / 3 months ago

Vale curbing base metal output to boost returns

RIO DE JANEIRO, April 26 (Reuters) - Vale is curbing base metal production to boost returns, though the world’s biggest nickel producer hopes the area will one day represent a greater part of earnings, company executives said on Thursday.

A day after first quarter results showed a 36 percent slump in profit, CEO Fabio Schvartsman said that efforts to find a partner for the New Caledonia nickel mine continue and will hopefully bear fruit by the end of the year.

Reporting by Marta Nogueira and Alexandra Alper Editing by Chizu Nomiyama

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