Vale (NYSE:VALE) has entered into an agreement with Hankoe FIP to buy New Steel for $500 million. New Steel develops iron ore beneficiation technologies and currently owns patents of dry processing concentration in 56 countries.
The transaction is expected to occur in 2019, subject to approval by antitrust authorities in Brazil. This technology aims to support the development of Vale’s high-grade pellet feed initiatives, including the Southeastern System 20 Mtpy pellet feed project.
The post Vale to buy iron ore tech firm New Steel for $500m appeared first on MINING.com.
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