Vale Hires Advisers to Weigh Deal for Base Metals Business (1)

Vale SA said it has hired advisers to assess options for its nickel and copper operations, after the Financial Times reported the Brazilian mining giant is in talks to sell a $2.5 billion minority stake in the metals business.

Vale “continues to evaluate alternatives to unlock long-term value for its shareholders,” the Rio de Janeiro-based company said Wednesday in a statement, adding that no decision has been made on a transaction.

Shares of the Brazilian miner rose as much as 2.7% in Sao Paulo to touch its highest intraday since July 8.

Vale, which is mainly an iron ore supplier, ...