The Brazilian was certainly surprised to hear from one of his key competitors but Forrest soon convinced him the two companies had a mutual interest in cooperation. After all, he had a particularly interesting business proposition that Vale had never considered.
FMG's goal was always to keep the talks with Vale tightly held at senior executive and board level. It deliberately did not employ any advisers – often a source of leaks – in part to ensure no news of the developing plan got out.
As well as frequent calls with Murilo Ferreira, Forrest followed up with a trip to Brazil last July. Fortescue chief executive Nev Power was meanwhile talking nuts and bolts with Vale's executive director of ferrous metals, Peter Poppinga.
