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Iron Ore Producer Vale Considering Stake Acquisition of Anglo Project

BRAZIL
  • (Bloomberg) Vale SA, the world’s second-largest iron ore producer, is considering acquiring a stake in Anglo American Plc’s huge Minas-Rio project in Brazil, according to people familiar to the matter.
  • Preliminary talks that started last year so far haven’t advanced enough to be presented to the companies’ boards and may not result in a deal, the people said, asking not to be named because the talks are private. Vale is considering buying a 30% to 40% stake in the project, or even a controlling interest, one of the people said.

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