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Vale buys New Steel

Steel News - Published on Wed, 12 Dec 2018

Image Source: Mining Global
Vale SA said that it has agreed with Hankoe FIP investment fund to buy innovation company New Steel for USD 500 million. New Steel develops innovative technology to process iron ore and currently owns patents in 56 countries for its dry processing method known as Fines Dry Magnetic Separation or FDMS.

The transaction is expected to occur in 2019, subject to approval by antitrust authorities in Brazil.

Source :

Posted By : Ratan Singh on Wed, 12 Dec 2018
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