Vale will receive its pro rata share of Minas Rio production with completion of the deal. It will also have an option to acquire an additional 15pc stake in the enlarged Minas Rio for cash.
Rio Tinto CEO Jakob Stausholm told the Financial Times on Wednesday that the company’s board has given the green light to the Simandou mining project in West Africa.
In a testament to its growing stature as an industrial hub, Samail Industrial City, overseen by Oman's Public Establishment for Industrial Estates , has achieved remarkable milestones in 2023.