OSLO, Oct 9 (Reuters) - Norway’s Norsk Hydro has signed a letter of intent with Brazilian mining company Vale for the possible acquisition of Vale’s 40-percent interest in Brazilian bauxite producer Mineracao Rio do Norte (MRN), the company said on Friday.
The value of the deal was not disclosed. MRN has a production of 18 million tonnes per year. Norsk Hydro already had a stake of five percent.
Hydro acquired Vale’s other Brazilian aluminum assets in 2011, and this deal also included commercial agreements for Vale’s bauxite offtake in MRN. (Reporting by Camilla Knudsen, editing by Gwladys Fouche)