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From Bloomberg:
Brazil’s Vale SA, the world’s biggest exporter of iron ore, said talks with Fortescue Metals Group Ltd. on a joint venture have stalled as they argue over how to price their products.
“The commercial discussions are taking much longer than expected,” Peter Poppinga, head of Vale’s ferrous minerals division, said in an interview in London on Tuesday. “You won’t see anything happening in 2016.”
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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