Rio Tinto and Glencore spoke for months about deal that was once taboo
The news of Glencore and Rio’s discussions “has turned up the temperature on an already simmering M&A environment,” RBC Capital Markets analyst says.
Vale SA said on Friday it has begun the process of increasing iron ore production at the Timbopea site, part of its Mariana complex in Minas Gerais, Brazil.
In a securities filing, Vale said iron ore production capacity at the site should return to 12 million tonnes a year once the commissioning period is over, which it says should last two months.
(By Jamie McGeever; Editing by Christian Plumb)
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