Anglo American (LON:AAL) said last week that it is holding preliminary discussions with Vale to jointly develop Vale’s Serpentina iron ore resource.
Serpentina is contiguous to Anglo American’s integrated Minas-Rio iron ore operation in Brazil.
Minas-Rio is an integrated iron ore operation with a mine, benefication plant, 529 km slurry pipeline and dedicated port facility, according to a Anglo.
These discussions are preliminary in nature and there can be no certainty that any agreement will be reached or, if any agreement is reached, on the terms or scope of any such agreement,” said Anglo in a news release.