From Bloomie:
Iron giant Vale SA said it’s taking a “reserved and conservative” stance on when its tie-up with Fortescue Metals Group Ltd. to sell blended ore to China will take effect.
“It needs to be transformed first in a binding agreement,” Claudio Alves, global director of iron ore sales and marketing, said in an interview Thursday. Only then can the partners determine “when exactly the blending will start, if it will start.” Asked whether a target had been set for volumes this year, Alves said there are “no numbers. We don’t have any concrete plans yet.”
