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Vale to focus on returns, sees asset sales closing soon

NEW YORK Nov 29 Vale SA, the world's largest iron ore producer, plans to focus strategic actions on improving global ore recovery and price realization as a way to bolster profitability in coming years, executives said on Tuesday.

Rio de Janeiro-based Vale will soon announce the closing of several asset divestitures aimed at helping the company reduce net debt between $15 billion and $17 billion in coming years, Chief Executive Officer Murilo Ferreira said at an annual event with the company's investors in New York.

(Reporting by Christian Plumb; Writing by Guillermo Parra-Bernal and Roberto Samora)

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