Long-term, the deal could be viewed as the first step of a more disciplined approach to iron ore supply by aligning two of the world’s “big four” producers of the commodity.
Riding a rocketing iron ore price, market cap of Vale, Rio Tinto, BHP Billiton, Fortescue Metals and Anglo American gain a combined 54% since early February.
Once Australia's youngest billionaire, the electrician turned coal baron has failed to pay off his private jet and other debts and is now officially ruined.