SAO PAULO – Vale is in talks with BHP Billiton over the future of their joint venture, Samarco Mineração, and one alternative is for the Brazilian miner to buy out its partner, a source with knowledge of the matter said on Wednesday.
A price has not been yet established for any buyout, according to the source, who spoke on condition of not being named. Bloomberg reported the talks earlier on Wednesday.
Contacted by Reuters, Vale declined to comment. BHP Billiton did not immediately reply to requests for comment.