FMG may seek ore blending venture with Vale
Wednesday, 21 Oct 2009
Bloomberg reported that Fortescue Metals Group Ltd may seek to blend its ore with that of Brazil Vale SA to better suit Chinese steel mills.
Mr Graeme Rowley ED of Fortescue said Vale, the world’ biggest iron ore exporter, has a diminishing supply of so called lump ore and may benefit from mixing it with Fortescue ore to sell in China. Perth-based Fortescue hasn’t held any talks with Vale on a venture
He said that “One of Brazil’s big problem is they are running out of lump. There are various opportunities. Maybe there are some options, as we go down the track, of blending our ore with theirs.”
(Sourced from Bloomberg)
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