Vale Seeks Two U.S. Pellets Supply Contracts as Shale Gas Booms
Vale SA (VALE), the world’s largest iron-ore exporter, expects next year to sign pellet supply contracts in the U.S. as a shale gas boom provides an opportunity to tap a market that represents less than 1 percent of shipments.
The company, based in Rio de Janeiro, is in talks with investors of two U.S. steel plant projects including Voestalpine AG to supply the processed form of iron-ore, Vale Chief Executive Officer Murilo Ferreira said today. Samarco Mineracao SA, a pellet producer that Vale controls with BHP Billiton Ltd., earlier this year signed a supply accord with Nucor Corp. (NUE), the largest U.S. steelmaker by market value, he said.
Read more at: http://www.bloomberg.com/news/2013-12-18/vale-seeks-two-u-s-pellets-supply-contracts-as-shale-gas-booms.html
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