Vale takes full control of Baovale iron ore project in Brazil

Iron Ore reclaimer machine and stockpile

Dazman/E+ via Getty Images

Vale (NYSE:VALE) confirmed it has completed an acquisition of the 50% stake in its Baovale joint venture previously owned by its Chinese partner Baosteel, giving Vale full control of the iron ore project, Reuters reported Thursday.

The Baovale JV was established

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