Anglo American, Vale confirm talks on Serpentina partnership

Anglo American and Brazil’s Vale have started preliminary talks on the potential to jointly develop Vale's Serpentina iron ore resource, the two companies confirmed.

The deposit neighbours Anglo American's integrated Minas-Rio iron ore operation in Brazil.

“These discussions are preliminary in nature and there can be no certainty that any agreement will be reached or, if any agreement is reached, on the terms or scope of any such agreement,” Anglo said on Wednesday.