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Iron ore giants Vale, Fortescue plan tie-up

It would be the first deal involving the "big four" iron ore miners following a collapse in the price of the commodity

Published Tue, Mar 8, 2016 · 09:50 PM
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Melbourne

THE world's No 1 and No 4 iron ore miners are in talks that could see Brazil's Vale SA taking a minority stake in Australia-based Fortescue Metals Group and the blending of their iron ore to win market share in China.

The proposal will help the pair match the quality of iron ore produced by rival Rio Tinto, seen as the benchmark in China, and comes just as beaten-down iron ore prices stage a recovery to eight-month highs.

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