Vale proceeding with caution on asset sales as jump in iron ore prices drives profit

Rio De Janeiro

THE best iron ore rally in years is giving top producer Vale SA pause as it considers asset-sale options.

While divestitures are still the best way to reduce debt quickly, a 50 per cent jump in iron ore prices that sent earnings to the highest in two years means the Brazilian miner is "progressing with a little bit more caution" in the sale of some of its best assets, chief financial officer Luciano Siani said.