Two mining behemoths consider new collaboration

Brazil's Vale and Australian Fortescue Metals Group seem close to entering into a new cooperation, which will comprise a total of 80-100 million tons of iron ore a year, writes Alphabulk.

Photo: PR-foto: Vale

The two global mining companies Brazilian Vale and Australia's Fortescue Metals Group are close, according to Alphabulk, to entering into a new collaboration, which will cover between 80-100 million tons of iron ore a year.

The anticipated joint venture, which enables the two companies to compete with the BHP Billiton and Rio Tinto, corresponds to ten percent of Chinas total production of steel in volume.

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