The pact to explore business opportunities, under which both will invest about $5 billion, covers industries such as renewable energy, hydrogen, and logistics.

Barrick, the world’s second biggest gold miner, is among the firms said to be interested in coming to Nigeria.

Heavy rains disrupted southeastern Brazil’s iron ore industry, with Vale among companies halting operations and regulators sent to monitor the impact on tailings dams.

Heavy rainfall is disrupting southeastern Brazil’s giant iron ore industry, regulators dispatched to monitor any impact on tailings dams.

"Expectation on resuming steel production and restocking demand before Chinese holidays could shore up iron ore prices," said Huatai Futures.

The Van zone is open for expansion to the south and west and potentially at depth.

Vale has partially suspended operations at its Southeastern and Southern iron ore systems due to the bad weather.