J&F completed the acquisition of Midwest System from Vale for $1.2bn.

J&F, a private investment holding company, completed the acquisition of Midwest System, assets related to the exploration of iron ores and manganese in Mato Grosso do Sul, from Vale, a metal and mining company, for $1.2bn. The Midwestern System produced 2.7 Mt of iron ore and 0.2 Mt of manganese ore in 2021. These efforts will aid the company to capitalize on the growing demand for iron ore, copper and nickel. High demand along with rising iron ore, copper and nickel prices bode well for the top-line performance. Efforts to improve productivity, introduce more high-quality ore in the market and control costs will favor its results. Backed by its solid cash flow, Vale continues to lower debt levels while continuing to invest in projects that will drive growth for the company.