Anglo American to acquire Serra da Serpentina from Vale.

Anglo American, a British multinational mining company, agreed to acquire Serra da Serpentina from Vale, a corporation engaged in metals and mining. Financial terms were not disclosed. “The opportunity to partner with Vale to secure a high quality iron ore resource of this scale and quality, right next door to Minas-Rio, is compelling – particularly given all the physical synergies of our mining and processing infrastructure to create a single optimised operation, combined with the option to access Vale’s rail and port logistics. The sheer scale and quality of the Serpentina orebody offers significant value, including through the scope to expand the production of the premium grade pellet feed products we sell to steelmaking customers as they focus on decarbonising their own processes for decades to come. The Minas-Rio DRI-grade product sells into one of the most attractive growth segments available in our industry today,” Duncan Wanblad, Anglo American CEO.