Vale Gets OK To Buy Brazil Corumba Iron Ore Facility
September 11 2009 - 6:06PM
Dow Jones News
Brazil's National Defense Council gave Brazilian mining company
Vale (VALE) the go-ahead to acquire the Corumba iron ore mine owned
by Rio Tinto PLC (RTP) and partners in Mato Grosso state, the
company said after the market closed on Friday.
The acquisition is expected to cost around $750 million.
The Corumba plant produces around 2 million metric tons of iron
ore.
-By Kenneth Rapoza, Dow Jones Newswires, 5511-2847-4541,
kenneth.rapoza@dowjones.com