Vale evaluates offers for $2.5 billion base metals unit
Vale Base Metals, to be based in the UK, will have nickel mines in Canada and Indonesia, copper mines in Brazil, and interests in cobalt and platinum group metals.
Costs to expand the Mongolian mine, Rio's biggest copper growth project, have ballooned up to $6.75 billion from Rio's original budget of $5.3 billion in 2016.