CVRD has formed a joint venture with Vale Fertilizantes to operate the Ultrafertil concession in the port of Santos. It paid $95m for 51% stake in the business and will invest $273m in total. The terminal imports sulphur, ammonia and general fertilisers.

Rio Tinto is accelerating its iron ore expansion programme in the Pilbara region of Western Australia with US$676m of funding for early works and procurement.