Vale acquired New Steel from Hankoe FIP for $500m.

Vale, a Brazilian multinational corporation engaged in metals and mining, acquired New Steel, a company that develops innovative iron ore beneficiation technologies and currently owns patents of dry processing concentration in 56 countries, from Hankoe FIP for $500m. This technology will support the development of Vale’s high grade pellet feed initiatives, including the Southeastern System 20 Mtpy pellet feed project.