Brazilian miner Vale confirmed on Thursday it has bought the 50% stake in its Baovale tie-up previously owned by its Chinese partner Baoshan Iron & Steel, known as Baosteel, a move that gives Vale full control of the iron-ore project.
Shares of Australia's Fortescue slipped on Thursday to a one-week low as it posted a marginal rise in its second-quarter iron-ore shipments, largely in line with market expectations for the period.
Negotiations for the sale of Brazilian iron ore mining company Bahia Mineração (Bamin) are progressing with an increasing chance of a deal being concluded this half, a source involved in the talks told BNamericas on condition of anonymity.