Former Xstrata Plc Chief Executive Mick Davis is considering a bid for Vale SA's (VALE5.SA) (VALE.N) nickel business, Bloomberg reported.
Hedge fund manager Jim Chanos, the prominent short-seller, said Tuesday he has lightened up on some of his bets against Brazil, saying most of the country's downside risk is priced in after the sharp selloff over the past two months.
China's steel consumption dropped this year for the first time since at least 2000 due to slower economic growth, leading to a surplus of iron ore in the country and a more than 40 percent plunge in prices of the steelmaking raw material.
Brazil-based iron ore mining giant Vale said it will sell its stake in Brazilian logistics firm Log-in Logistica International and auction its capital in phosphoric acid firm Fosbrasil.
Brazil-based iron ore miner Vale agreed to sell a stake in logistics company VLI SA to Canadian firm Brookfield Asset Management in a deal valued at BRL2 billion ($842.78 million).
The following bids, mergers, acquisitions and disposals were reported on Monday.
Rio Tinto (RIO.AX) (RIO.L) will spend $3.7 billion to boost its Australian output of iron ore.
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