Brazil’s Vale and Australia’s Fortescue team up to enhance competitiveness in China

摘要

Two mining giants, Brazil’s Vale and Australia’s Fortescue, have signed a Memorandum of Understanding (MoU) enablingthe companies to blend different grades of iron ore and sell the new blended product in China.The MoU provides an opportunity to increase competitiveness of both producers by establishing joint ventures forjoint supply of new iron ore blend to China, said in Vale’s and Fortescue’s press releases.