Vale 'would be best owner' of iron ore pellet producer Samarco

Vale believes that it would be the “best owner” of Brazilian iron ore pellet producer Samarco, amid market rumors of a potential exit from the joint venture by its other owner, BHP.

“We are neighbors of Samarco in [Brazil’s south-eastern] Minas Gerais state, so the company could use our exhausted mines to deposit tailings,” Vale investor relations director André Figueiredo said during a presentation for investors on Wednesday January 17 in São Paulo.

Although Vale’s preference would be to become the operator of Samarco, Figueiredo said that the miner is negotiating with BHP the best option for...

Published

Ana Paula Camargo

January 17, 2018

15:15 GMT

São Paulo