Anglo American has reached an agreement to integrate the Vale-owned Serra da Serpentina iron ore resource into its Minas-Rio operation in Brazil.
The move will see Anglo American maintain control and management of Minas-Rio, including any future expansions linked to the Serpentina resource.
Vale CEO Eduardo Bartolomeo said: “We are pleased to partner with Anglo American to support the growing demand for high-quality iron ore as our clients accelerate their transition to low-carbon-emissions steelmaking.
“Minas-Rio is a Tier-1 asset that will benefit from great synergies with Serpentina’s deposit and Vale’s logistics and we are confident this partnership will unlock significant value to all of our stakeholders.”
Serpentina holds a mineral resource of 4.3 billion tonnes of iron ore, with potential for a total endowment that is more than double the current strike length of Minas-Rio.
Source: Mining Technology
