Murilo Ferreira, speaking at Vale’s investor day meeting in London, told journalists that, as an asset, Norsk Hydro was not core to Vale’s business operations and would be sold when the price was right.

Depressed aluminium pricing is the chief reason behind Vale’s (and other mining companies) decision to sell-off aluminium assets.

Another major company that has indicated it will off-load poorly performing aluminium businesses is Rio Tinto Alcan.