Brazil's Vale says plans to sell stake in Usiminas

RIO DE JANEIRO May 26 (Reuters) - Brazil's mining company Vale (VALE5.SA)(RIO.N) said on Monday it planned to sell its 2.9 percent stake in local steelmaker Usiminas (USIM3.SA).

Vale, the world's largest iron ore miner, did not say when the offering may take place.

"Vale has informed Usiminas of its interest in selling in the market the stocks it owns ... If and when Vale comes to carry out the sale it will inform the market accordingly," it said in a statement to the CVM securities market regulator.

Vale holds 5.89 percent of Usiminas voting capital, corresponding to a 2.9 percent overall stake.

Other shareholders include Nippon Steel Corp (5401.T) with a 24.7 percent voting stake, and a group formed by Brazilian conglomerates Votorantim and Camargo Correa. That group has a 23.1 percent voting stake. Vale's partners may use preferential rights in acquiring the stake.

Usiminas shares closed 0.34 percent higher at 89.5 reais on Monday before the announcement, while Vale fell 0.62 percent to 55.8 reais. The broader market rose 0.25 percent. (Reporting by Denise Luna; Writing by Andrei Khalip; Editing by James Dalgleish)