Brazil's Vale explores joint venture with Australia's Fortescue
SAO PAULO, March 7 (Reuters) - Brazilian miner Vale SA said on Monday it signed a memorandum of understanding with Australian rival Fortescue Metals Group Ltd to explore creating joint ventures to blend iron ore for the Chinese market.
Vale said in a securities filing that the agreement also opens the possibility of Vale launching mining projects in Australia in partnership with Fortescue. (Reporting by Marcelo Teixeira and Reese Ewing; Writing by Stephen Eisenhammer; Editing by Andrew Hay)
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