Vale will buy Brazilian privately-owned Ferrous Resources Ltd as part of its "bolt-on acquisitions" strategy, it said on Thursday December 6.
The world's largest iron ore producer will buy the small miner for $550 million, the company said. Ferrous Resources operates iron ore mines close to Vale's own assets in the southeastern state of Minas Gerais, with sales volumes of 3 million tonnes in 2017 - all for the domestic market....