Vale and BHP are expanding Iron ore production together in Brazil.
The new tennement application from the Xstrata east of Rio Verde could hold a I/O resource, rock chip samples done by AVB in the S/E corner have comfirmed the presence of typical banded carajas irom formation to be there.
http://www.miningweekly.com/article/vale-and-bhp-pull-trigger-on-3bn-brazilian-iron-expansion-2011-04-29
