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Vale and Anglo Discuss Joint Development of Serpentina Using Minas-Rio

Reuters2021-12-29

RIO DE JANEIRO, Dec 28 (Reuters) - Vale SA has begun "preliminary discussions" with Anglo American PLC regarding a potential partnership at its Serpentina project adjacent to Anglo's Minas-Rio iron ore mine project, the Brazilian miner said on Tuesday.

A potential partnership could leverage Anglo's "processing and logistics infrastructure" from Minas-Rio, which includes a mine, a transport pipeline and a port in Rio de Janeiro state, Vale said.

No decision or commitment has been made, Vale said, adding that it "regularly evaluates alternatives and strategic partnerships" during the normal course of doing business.

Vale's securities filing came in response to a Bloomberg report last week that Vale was considering acquiring a stake in Minas-Rio. Vale could acquire either a minority of majority stake, according to the report, citing people familiar with the preliminary discussions.

Both Anglo and Vale declined to comment on the Bloomberg report.

The Serpentina project is compromised of mining rights in three municipalities in Minas Gerais state, Vale said.

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  • kevinlaisq
    ·2021-12-29
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    • Gerinit
      done
      2021-12-29
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  • YunaTuna
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