METALS PEOPLE - Williams leaves Vale as part of base metals restructuring - sources

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By Charlotte Radford and Danielle Assalve at Metal Bulletin and Perrine Faye at FastMarkets

London and Sao Paulo 05/10/2016 - Nick Williams, director of nickel marketing at Vale International SA, has left the mining company following the introduction of a restructuring plan for its base metals division aimed at cutting costs, sources told FastMarkets and Metal Bulletin.

Williams, who had been appointed director in 2008, has also resigned from the nickel committee of the London Metal Exchange, sources added.

Vale has let go of ten employees in the marketing and sales division globally, one trading source said, while another said its head of sales in Rio de Janeiro, Heloisa Abud, had also left the company.

Vale declined to comment.

The company is reducing its sales presence in places such as Rio de Janeiro in Brazil and Saint-Prex in Switzerland to Toronto in Canada and to Singapore to reduce costs, two sources close to the matter explained.

Brent Rochon is believed to have taken over as director of nickel marketing for the Americas and Europe.

Vale is mainly focused on iron ore but is also the world's largest producer of nickel - it has operations in Brazil, Canada, Indonesia and New Caledonia. It also produces copper in Brazil, Canada and Zambia. Vale reported record production for both nickel and copper in the second quarter, at 78,500 tonnes and 107,400 tonnes respectively.

(Additional reporting by Ian Walker at FastMarkets, editing by Mark Shaw)



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