Are Vale considering a j/v with Fortescue to get the PIOP project up and running?
Interesting article in the Australian today on Vale's interest in Australian iron ore projects...
https://www.google.com.au/url?sa=t&...4ba17f&usg=AFQjCNFPOLhHfgI3B9-6V97WG0uN9kU5EQ
"Brazilian mining giant Vale wants to invest in Australian iron ore assets with Fortescue Metals but says it is less keen to take the option of an equity stake in Fortescue that was worked into a deal framework between the pair last month."
"On Thursday night, Vale made its first detailed comments on the March 8 preliminary deal to blend iron ore with Fortescue in China, co-invest in some of Fortescue’s existing or new Australian assets and potentially take the equity stake."
Ann: Quarterly Activities and Cashflow Report-FMS.AX, page-16
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