Vale denies talks to take over Samarco

Tuesday, 22 May 2018 22:11:50 (GMT+3)   |   Sao Paulo
       

Brazilian miner and iron ore producer Vale denied on Tuesday any ongoing negotiations for the company to take over halted pellet producer Samarco.

Vale did not specifically mention any media report, but rumors have been mentioned by various outlets that Vale could be planning to buy BHP Billiton’s 50 percent stake in the project, giving Vale 100% ownership.

Vale and BHP Billiton continue to focus on prioritizing their support to Samarco to resume operations,” Vale said in a statement.

Samarco halted operations in November 2015, following a deadly iron ore waste burst, which killed 19 people. It has struggled to obtain operational licenses following the shutdown.

 


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