Vale to acquire Brazilian Ferrous Resources for $550mln

Vale will buy Brazilian privately-owned Ferrous Resources Ltd as part of its “bolt-on acquisitions” strategy, it said on Thursday December 6.

The world’s largest iron ore producer will buy the small miner for $550 million, the company said. Ferrous Resources operates iron ore mines close to Vale’s own assets in the southeastern state of Minas Gerais, with sales volumes of 3 million tonnes in 2017 - all for the domestic market....

Published

Renato Rostás

December 06, 2018

14:37 GMT

São Paulo