Vale to purchase Ferrous
(Posted on 11/12/18)
Vale informs that it entered into a definitive agreement to buy Ferrous Resources Limited, a company that currently owns and operates iron ore mines closely located to Vale's operations in Minas Gerais, Brazil. The purchase price is US$ 550 million and the transaction is expected to occur in 2019, subject to various conditions precedent,
Vale’s primary business is mining, an essential activity in modern times. From cell phones to airplanes, building structures to coins, ores are the ingredients for various indispensable items for everyday life.
Vale are the world’s largest iron ore and nickel producer, alsoâ€‹ operating in other mineral sectors, and through investments in technology and logistics and assure efficiency, growth and sustainability in operations.
To ensure speed and safety of ore transportation, Vale has a logistics network integrating mines, railroads, ports and ships. The company has infrastructure in Brazil, Indonesia, Mozambique, Oman, Philippines and Argentina.
Its logistics structure also transports cargo for third parties. In addition, they offer two passenger train lines in Brazil: the Vitória – Minas and Carajás Railroads.
Through investment in state-of-the-art technology, Vale develop solutions which enable reduction of transportation costs and greenhouse gas emissions.
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